20 December
2024
Inspecs Group plc
("Inspecs", the "Company" or the "Group")
Board Composition
Inspecs Group plc, a leading designer,
manufacturer and distributor of eyewear (sunglasses, optical
frames, lenses and low vision products), announces that its Board
has decided to start a process of enhancing its governance
structures.
In support of this, Robin Totterman has decided
that he intends to step down as Executive Chair of the Board with
effect from the conclusion of the Company's AGM in 2025. The
Board has, therefore, agreed to commence a search for a new
non-executive and independent director to assume the role of Chair
when Robin Totterman steps down. The Board is clear that
Robin Totterman remains critical to the future success of Inspecs
and is delighted that he will continue to perform his day-to-day
executive functions within the business as well as remaining a
director of the Company.
The Board has also determined that it will
undertake a full review of its balance and composition. In
undertaking that review, the Board will take full account of
generally accepted principles of good corporate
governance.
Robin
Totterman, Chair of Inspecs Group plc, commented:
"This change to my role reflects a continuing
commitment to the evolution of the Group and its governance
structures since it listed in 2020. I remain fully committed to
Inspecs and will continue to contribute fully to its future
success."
This announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU)
596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR"). The person
responsible for making this announcement is Elliott Smith, Company
Secretary.
For further
information please contact:
Inspecs Group
plc
via FTI Consulting
Richard Peck
(CEO)
Tel: +44 (0) 20 3727
1000
Chris Kay (CFO)
Peel Hunt (Nominated Adviser and
Broker)
Tel: +44 (0) 20 7418
8900
George Sellar
Andrew Clark
FTI Consulting (Financial
PR)
Tel: +44 (0) 20 3727
1000
Alex Beagley
Harriet Jackson
Amy Goldup
About Inspecs
Group plc
INSPECS is a leading provider of eyewear
solutions to the global eyewear market. The Group produces a broad
range of eyewear frames, low vision aids and lenses, covering
optical, sunglasses and safety, which are either "Branded" (under
licence or under the Group's own proprietary brands), or "OEM"
(unbranded or private label on behalf of retail
customers).
INSPECS is building a global eyewear business
through its vertically integrated business model. Its continued
growth is underpinned by six core pillars: increasing the
penetration of its own-brand portfolio, increasing distribution,
growing its travel retail markets, maximising group synergies,
expanding its manufacturing capacity and scaling the research and
development department as it develops new and innovative eyewear
products.
The Group has operations across the globe: with
offices and subsidiaries in the UK, Germany, Portugal, Scandinavia,
the US and China (including Hong Kong, Macau and Shenzhen), and
manufacturing facilities in Vietnam, China, the UK and
Italy.
INSPECS customers are global optical and
non-optical retailers, global distributors and independent
opticians. Its distribution network covers over 80 countries and
reaches approximately 75,000 points of sale.