Marks
Electrical Group plc
Directorate Change
Marks Electrical Group plc ("Marks
Electrical", "the Company" or "the Group"), the online electrical
retailer, today announces that Josh Egan, Chief Financial Officer,
has informed the Board of his decision to leave the Company to take
up a new role as Chief Financial Officer of Roadchef. Marks
Electrical is now commencing a process to appoint a successor.
Josh, who remains a director of the Company, will continue to
fulfil his current role, which will include supporting the business
through its Preliminary Results in June and facilitating a smooth
transition. A further announcement will be made as
appropriate.
Mark Smithson, CEO of Marks Electrical
commented:
"Josh has made a great contribution
to the transformation of Marks Electrical, bringing professionalism
and rigour to the finance function and through wider support across
the business. Our financial controls, reporting and financial
discipline are in a far stronger place than when he arrived. Under
his guidance, we have improved our financial and operational
capabilities, creating a strong platform for our future success. He
has been a great colleague, and we thank him for his efforts at
Marks Electrical and wish him well in his new role."
Josh Egan, CFO of Marks Electrical
commented:
"It's been a pleasure to work with
Mark and the team, as we transitioned from a successful
family-owned business to a publicly traded company. It's never an
easy decision to leave a great business, especially with the
progress we have made over the last few years. However, the
opportunity has arisen for me to take on an exciting new challenge.
I leave Marks Electrical in a good position and have every
confidence that the business will continue to flourish, as it
executes on its strategy of driving profitable market share gains
to become the UK's leading premium electrical retailer."
The Group expects to publish its
Preliminary Results for the 12 months ended 31 March 2025 on 25
June 2025.
Enquiries:
Marks Electrical Group
plc Via
DGA Group:
Mark Smithson
(CEO) Tel:
+44 (0)20 7664 5095
Josh Egan
(CFO)
DGA Group (Financial PR)
Jonathon Brill / James Styles /
Nishad Sanzagiri
Tel:
+44 (0)20 7664 5095
markselectrical@dgagroup.com
Canaccord Genuity (NOMAD and
Broker)
Max Hartley / George Grainger
Tel: +44 (0)20 7523 8000
About Marks Electrical
Marks Electrical is a technology
driven e-commerce electricals retailer which sells, delivers,
installs and recycles a wide range of household electrical
products. The Group was founded in Leicester in 1987 by Mark
Smithson and has scaled into a nationwide online retailer with a
compelling growth track record, thanks to its vertically
integrated, low-cost, high-quality operating model, supported by
the ongoing structural shift of consumers to purchase online. The
Group operates within the UK Major Domestic Appliances (MDA) and
Consumer Electronics (CE) market, estimated to be worth
approximately £7 billion.
Primarily through its simple, clear
and intuitive website - markselectrical.co.uk - the Group offers
over 4,500 products from over 50 leading brands across its main
product categories, which include Cooking, Refrigeration, Washers
& Dryers, Dishwashers and Audio-Visual. These products are
sourced from UK distributors of the brands, with whom the Group
maintains strong and direct relationships. Marks Electrical
delivers direct to customers in its owned and branded vehicles,
operated by the Group's skilled team of delivery drivers, who are
also able to offer installation and recycling services.
For further information, visit the
Marks Electrical corporate website: https://group.markselectrical.co.uk and
its retail website: https://markselectrical.co.uk/.
