Stelrad Group PLC Appointment of Chief Financial Officer (7410N)
27 Septembre 2023 - 8:00AM
UK Regulatory
TIDMSRAD
RNS Number : 7410N
Stelrad Group PLC
27 September 2023
Stelrad Group plc
Appointment of Chief Financial Officer
Stelrad Group plc ("Stelrad" or "the Group" or "the Company",
LSE: SRAD) announces today the appointment of Annette Borén as
Chief Financial Officer, with effect from 1 November 2023. She will
be appointed as an Executive Director of the Board on 22 November
2023.
Annette will succeed George Letham, who as announced on 22 May
2023, will retire from his position as Chief Financial Officer and
Executive Director of the Company and will step down from the Board
on 22 November 2023 following an orderly transition period. Post
this, George will be retained in the capacity of Strategic Advisor
to the CEO, on a part-time basis for a 6 month period.
Annette is a highly experienced CFO and brings with her a proven
track record in delivering financial leadership, operational
excellence, and strategic growth, across different geographies and
sectors.
Most recently, she was CFO for Northern Europe at Hilti, a world
leader in the manufacture of construction tools. Prior to this
Annette was CFO for Doro, a Swedish consumer electronics company
listed on the Nasdaq Stockholm.
Bob Ellis, Chair of Stelrad, said:
"Following a rigorous recruitment process supported by an
external search firm, I am pleased on behalf of the Board to
welcome Annette to the business. She brings a wealth of experience
which will enable her to make a significant contribution to the
continued growth and success of the Group. I would also like to
reiterate the Board's appreciation for George's contribution and
commitment during his twenty years at Stelrad and wish him all the
very best in his retirement."
Trevor Harvey, CEO of Stelrad, said:
"I am delighted to announce Annette's appointment as Group Chief
Financial Officer and to welcome her to our team. Annette is a
valuable addition to the business and I look forward to working
with her to continue to build on our market position and deliver
our strategy ."
Annette Borén added:
"Stelrad is a fantastic business with an unrivalled reputation
in the markets where it operates combined with a strong track
record of delivery over many years. I am excited to be joining the
business at this stage in its development, with significant
opportunity ahead of it, and am looking forward to working
alongside Trevor and the team."
There is no other information to be disclosed under Listing Rule
9.6.13 in respect to Annette Borén.
Annette Borén's remuneration arrangements are consistent with
the terms of the Directors' Remuneration Policy approved by
shareholders at the Annual General Meeting in May 2023 and will be
set out in the Company's Directors' Remuneration Report for the
year ended 31 December 2023.
Enquiries
Stelrad Group plc
Trevor Harvey, Chief Executive Officer
George Letham, Chief Financial Officer +44 (0)191 261 3301
Powerscourt +44 (0)7855 432 699
James White / Pete Lambie stelrad@powerscourt-group.com
Notes to Editors
Stelrad Group plc is a leading specialist radiator manufacturer,
selling an extensive range of hydronic, hybrid, dual fuel and
electrical heat emitters to more than 500 customers in over 40
countries. These include standard, premium and low surface
temperature (LST) steel panel radiators, towel warmers, decorative
steel tubular, steel multicolumn and aluminium radiators.
The Group has five core brands: Stelrad, Henrad, Termo Teknik,
DL Radiators and Hudevad. In the countries reported by BRG Building
Solutions in 2023 to date, Stelrad moved into a market leadership
position, with 18.5% share by volume of the combined UK, European
and Turkish steel panel radiator market. The Group is now market
leader in six countries - the UK, Ireland, France, the Netherlands,
Belgium and Denmark, with a top 3 position in a further five
territories.
Stelrad is headquartered in Newcastle upon Tyne in the UK and in
2022 employed 1,500+ people, with manufacturing and distribution
facilities in Çorlu (Turkey), Mexborough (UK), Moimacco (Italy) and
Nuth (Netherlands), with further commercial and distribution
operations in Kolding (Denmark) and Krakow (Poland).
The Group's origins date back to the 1930s and Stelrad enjoys
long established commercial relationships with many of its
customers, having served each of its top five current customers for
over twenty years.
Further information can be found at:
https://stelradplc.com/.
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