TIDMECEL

RNS Number : 8666L

Eurocell plc

06 January 2023

6 January 2023

EUROCELL PLC

("Eurocell" or the "Group")

CEO Announces Intention to Retire in 2023 and CEO Designate Appointed

Eurocell, the market leading, vertically integrated UK manufacturer, distributor and recycler of innovative window, door and roofline PVC building products, announces that Mark Kelly, Chief Executive Officer, has notified the Board of his intention to retire later this year. He will be succeeded as CEO by Darren Waters, currently Chief Operating Officer of Ibstock plc, who will join the Board of Eurocell as Chief Executive Designate this spring.

Mark has led the Group successfully from 2016, overseeing positive change throughout the business, delivering on significant growth since then, as well as completing substantial investment to expand capacity and provide a strong platform for the future. To ensure a smooth transition, Mark will remain in his role until a handover period has been completed, following which he will step down from the Board and the position of Chief Executive at the Group's AGM in May.

Darren has extensive experience and knowledge of the building products and fenestration sectors in the UK, both from his current role at Ibstock and from his previous position at Tyman plc, where he was the Chief Executive of UK and Ireland from 2012 to 2020. Prior to Tyman, Darren held senior management roles at Kenda Capital BV, Anglo American plc and RMC Group plc.

Derek Mapp, Chair of the Board, said:

"As Chief Executive, Mark has been instrumental in Eurocell's success and development as a new plc. He has led the Group through a period of very strong growth and navigated the exceptional challenge of the COVID pandemic. We are extremely grateful to Mark for his immense contribution to the Group and his commitment to ensure a smooth transition. On behalf of the Board, I thank him for his significant achievements and we wish him all the very best for the future.

"I am absolutely delighted that we have secured someone of Darren's calibre. He brings a wealth of commercial and operational experience and the Board and I are looking forward to working with him to lead Eurocell through the next stage of our development."

Mark Kelly, Chief Executive Officer, said:

"It has been a privilege to lead Eurocell through an exciting period of change, investment and growth. The business is now well placed, with the capacity both to take advantage of market conditions as they develop within the UK building products sector and further improve efficiency. Darren will be joining a great team who will support him as he drives the business forward. I would like to thank all my colleagues for their support and look forward to watching Eurocell continue to grow and prosper in the years ahead."

We intend to publish our usual year end trading update on 26 January 2023.

This announcement is made pursuant to LR 9.6.11R of the Listing Rules and there are no further matters, required by paragraphs 9.6.13R (1) to (6) of the Listing Rules, to be disclosed in relation to Darren Waters.

Enquiries:

 
 Eurocell plc 
 Mark Kelly, Chief Executive 
  Officer                          +44 (0) 1773 842 105 
 Michael Scott, Chief Financial 
  Officer                          +44 (0) 1773 842 140 
 
 Teneo 
 Ben Foster                        +44 (0) 777 624 0806 
 Camilla Cunningham                +44 (0) 746 498 2426

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END

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(END) Dow Jones Newswires

January 06, 2023 02:00 ET (07:00 GMT)

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