TheWorks.co.uk PLC CFO succession (7344K)
30 Agosto 2023 - 1:00AM
UK Regulatory
TIDMWRKS
RNS Number : 7344K
TheWorks.co.uk PLC
30 August 2023
30 August 2023
TheWorks.co.uk plc
("The Works", the "Company" or the "Group")
CFO succession
Steve Alldridge to step down as Chief Financial Officer of The
Works; Rosie Fordham to be appointed as successor.
TheWorks.co.uk plc, the family-friendly value retailer of arts,
crafts, toys, books and stationery, announces that Steve Alldridge
plans to step down as Chief Financial Officer (CFO) by the end of
2023. Rosie Fordham, currently Head of Finance at The Works, will
be appointed as his successor.
Steve joined The Works in June 2020 as Interim CFO, a position
that was made permanent in May 2021, and has made a significant
contribution to The Works over the last three years. The Works
ended FY23 in a strong financial position with no debt and entered
FY24 on a positive trajectory. Steve has therefore decided that now
is the right time to step down.
Rosie Fordham joined The Works in 2019 and has worked as both
Head of Finance and Interim CFO(1) . She has over 15 years'
commercial and finance experience in PLCs, having previously worked
at National Grid and Spirit Pub Company, and qualified as a
Chartered Accountant at PwC. Rosie's transition to the role of CFO
aligns with the Board's succession plans and follows a rigorous
benchmarking exercise.
We are planning an orderly handover of responsibilities, with
the transition expected to conclude by the end of 2023, at which
point Rosie will assume the position of CFO and join the Board of
Directors(2) .
Carolyn Bradley, Chair of The Works , said: "Steve has played a
pivotal role over the last three years, helping to steer the
business through the financial uncertainty created by the Covid-19
pandemic and subsequent challenging macroeconomic climate. The fact
that The Works is now a more financially robust business is in no
small part due to Steve's efforts - we are grateful for his
contribution and wish him all the best in his future
endeavours.
"We are delighted to appoint Rosie as CFO. She has extensive
financial credentials and PLC experience, a thorough understanding
of the business and a track record of delivering results. This
combination made her our unanimous choice as CFO working alongside
Gavin to deliver our strategy."
Steve Alldridge, CFO of The Works , said: "It has been a great
privilege and hugely satisfying to work with Gavin and the team at
The Works during a period of significant challenges and change. I
believe the business has emerged much stronger and is now poised to
deliver profitable growth. I am delighted to be handing over the
reins to Rosie, for whose unstinting support and hard work I am
extremely grateful. I have no doubt that under Gavin and Rosie's
leadership, the business will prosper."
Rosie does not currently hold any shares in the Company. There
is no further information in respect of the appointment of Rosie
Fordham, which would require disclosure under Listing Rule 9.6.13 R
(1) - (6).
Enquiries:
TheWorks.co.uk via Sanctuary Counsel
plc
Gavin Peck CEO
Steve Alldridge
CFO
Sanctuary Counsel
Ben Ullmann 0207 340 0395 theworks@sanctuarycounsel.com
Rachel Miller
Kitty Ryder
Footnotes:
(1) Rosie joined The Works in March 2019 as Head of Finance. She was appointed Interim CFO in
January 2020 when Gavin Peck, CFO at the time, became CEO. Rosie held this position for seven
months before going on maternity leave, at which point Steve Alldridge joined the business
as Interim CFO.
(2) A further update will be issued with the exact date of Rosie's appointment, once this has
been confirmed.
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END
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