Kitwave Group PLC Directorate Changes (4111S)
06 Novembre 2023 - 8:01AM
UK Regulatory
TIDMKITW
RNS Number : 4111S
Kitwave Group PLC
06 November 2023
6 November 2023
Kitwave Group plc
("Kitwave", the "Group" or the "Company")
Directorate Changes
Kitwave Group plc (AIM: KITW), the delivered wholesale business,
today announces that Paul Young, Chief Executive Officer, will be
retiring and stepping down from the Board at the end of the
Company's Annual General Meeting ("AGM") to be held in March 2024.
Ben Maxted, the Group's Chief Operating Officer, will become Chief
Executive Officer following Paul's retirement. A handover period
between Paul and Ben will commence immediately to ensure a seamless
transition of Chief Executive Officer responsibilities prior to the
next AGM.
Steve Smith, Chairman of Kitwave, commented:
"Paul's retirement next year will mark the end of a remarkable
career with Kitwave. Having founded the Company in 1987 as a
single-site confectionery business Paul has been instrumental in
its growth and development into the delivered wholesale business
that it is today. On behalf of everyone at Kitwave, we thank Paul
for his vision and enduring contribution to the Group and we wish
him well in his retirement."
Paul Young, Chief Executive Officer of Kitwave, commented:
"On behalf of the Directors, we are delighted to announce that
Ben Maxted will become Chief Executive Officer following my
retirement at the Company's AGM in March 2024. As Chief Operating
Officer, Ben has demonstrated excellent commercial and operational
expertise and these skills will continue to be invaluable in his
new role and in delivering the next phase of our growth
strategy.
"The Board continues to remain committed to delivering value to
our shareholders. I believe that Kitwave will continue to go from
strength to strength and post my departure, I look forward to being
a long-term shareholder in the Company."
- Ends -
For further information please contact:
Kitwave Group plc Tel: +44 (0) 191 259 2277
Paul Young, Chief Executive Officer
David Brind, Chief Financial Officer
www.kitwave.co.uk
Canaccord Genuity Limited Tel: +44 (0) 20 7523 8150
(Nominated Adviser and Sole Broker)
Bobbie Hilliam
Alex Orr
Yellow Jersey PR Tel: +44 (0) 20 3004 9512
(Financial media and PR)
Sarah Hollins
Shivantha Thambirajah
Bessie Elliot
Company Overview
Founded in 1987, following the acquisition of a single-site
confectionery wholesale business based in North Shields, United
Kingdom, Kitwave is a delivered wholesale business, specialising in
selling and delivering impulse products, frozen, chilled and fresh
foods, alcohol, groceries and tobacco to approximately 42,000,
mainly independent, customers.
With a network of 29 depots, Kitwave is able to support delivery
throughout the UK to a diverse customer base, which includes
independent convenience retailers, leisure outlets, vending machine
operators, foodservice providers and other wholesalers, as well as
leading national retailers.
The Group's growth to date has been achieved both organically
and through a strategy of acquiring smaller, predominantly
family-owned, complementary businesses in the fragmented UK grocery
and foodservice wholesale market.
Kitwave Group plc (AIM: KITW) was admitted to trading on AIM of
the London Stock Exchange on 24 May 2021.
For further information, please visit: www.kitwave.co.uk .
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 as
amended by regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310. With the publication of this announcement,
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END
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