PZ CUSSONS PLC Directorate Change (5919W)
12 Diciembre 2019 - 1:01AM
UK Regulatory
TIDMPZC
RNS Number : 5919W
PZ CUSSONS PLC
12 December 2019
PZ Cussons Plc
("PZ Cussons" or the "Group")
Directorate Change
12 December 2019
PZ Cussons Plc ("PZ Cussons" or the "Company") announces that
Chief Executive Officer Alex Kanellis will retire from the Company
on 31 January 2020.
Alex has been with the Company since 1993 and has been Chief
Executive Officer since 2006. During that time he has overseen
significant development of the Group, including the operational
restructuring of the business, the creation of the Beauty division,
the development of the joint venture businesses in Africa and, most
recently, the resetting of the Group's strategy to begin the
process of returning the Group to profitable growth.
A search for Alex's successor has been initiated and the process
is expected to be completed in the first half of 2020. Pending the
appointment of the new Chief Executive Officer, Caroline Silver
will become Executive Chair with effect from 1 February 2020. Alan
Bergin will continue as interim Chief Financial Officer. The Group
will remain fully focused on delivering its "Focus, Scale and
Accelerate" strategy.
Caroline Silver, Chair of PZ Cussons, said:
"The Board would like to thank Alex for his lifetime of service
to PZ Cussons. His commitment to the CANDO and Good 4 Business
values and culture which make PZ Cussons so special and his
tireless efforts to develop and grow the business in each of its
key markets are truly appreciated, particularly during recent
difficult years. During his 13 year tenure as Chief Executive
Officer, Alex has led numerous initiatives which have shaped the
business, including the acquisition of the brands which now
underpin the Group's growth and future potential. The Group is now
ready to move onto the next chapter under new leadership and we are
confident that the opportunities to return to profitable growth are
significant. On behalf of the Board and Alex's many friends within
the business, we wish him and his family all the very best for the
future."
Alex Kanellis said:
"It has been a privilege to serve the Company and the Board as
Chief Executive Officer and I am proud to have worked with so many
fantastic people across the business over many years. The Company
has a stable of great brands and enjoys strong long term
relationships with partners across all regions but, above all, it
is our unique CANDO culture and our people which makes PZ Cussons
special and which, as I retire from the Company, gives me the
confidence that the business has a bright future ahead."
As required by section 430(2B) of the Companies Act 2006,
details of the remuneration payments to be made to Mr Kanellis have
been published in the Investors section of the Company's
website.
- Ends -
For further information contact:
PZ Cussons Plc
Alan Bergin, Interim Chief Financial
Officer 0161 435 1027
Instinctif Partners
Tim Linacre
Guy Scarborough 020 7457 2020
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END
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