TIDMHEAD

RNS Number : 2649O

Headlam Group PLC

07 October 2021

7 October 2021

Headlam Group plc

('Headlam' or the 'Company')

Directorate Change

Headlam (LSE: HEAD), Europe's leading floorcoverings distributor, announces that following an extensive executive career with the Company, Steve Wilson, Chief Executive, has stepped down from the Board and the Company. Chris Payne, Chief Financial Officer, has become Interim Chief Executive while an independent search process is carried out for a permanent Chief Executive.

Steve has been instrumental in the Company's success throughout his 30 years with Headlam, the last five years as Chief Executive. As Chief Executive, he instigated and has overseen the recent business change strategy, ensuring Headlam is now firmly positioned for both revenue growth and operating margin improvement. There is no change to the expectations set out in the Company's interim results announced in September 2021.

The Board is now looking for a successor to drive delivery of the strategy, and focus on maximising the opportunities available.

Philip Lawrence, Non-Executive Chairman, said:

"It is impossible to convey how fundamental Steve has been to Headlam's success. He was integral in the formation of Headlam, overseeing the acquisition and growth strategy that has led it to being a clear market-leader. Through his leadership and strategic insight, Headlam now has more opportunity than ever before and is well positioned to achieve its stated ambitions. We wish Steve the very best following his extensive and highly successful executive career, and offer our heartfelt gratitude for his contribution and leadership to Headlam over the past 30 years."

Enquiries:

 
 Headlam Group plc                        Tel: 01675 433 000 
  Chris Payne, Interim Chief Executive     Email: headlamgroup@headlam.com 
  Catherine Miles, Director of IR 
  and ESG 
 Investec Bank plc (Corporate Broker)      Tel: 020 7597 5970 
  David Flin / Alex Wright 
 Panmure Gordon (UK) Limited (Corporate    Tel: 020 7886 2500 
  Broker) 
  Erik Anderson / Edward Walsh / 
  Ailsa MacMaster 
 Alma PR (Financial PR)                   Tel: 020 3405 0205 
  Susie Hudson / Harriet Jackson           headlam@almapr.co.uk 
  / Faye Calow

Notes for Editors:

Headlam is Europe's leading floorcoverings distributor, providing the channel between suppliers and trade customers of floorcoverings.

Headlam works with suppliers across the globe manufacturing a diverse range of floorcovering products, and provides them with a cost efficient and effective route to market for their products into the highly fragmented customer base. Alongside long-established processing and distribution expertise, suppliers benefit from Headlam's marketing and customer servicing into the most extensive customer base.

To maximise customer reach, Headlam operates 66 businesses across the UK and Continental Europe (France and the Netherlands). Each business operates under its own trade brand and utilises individual sales teams while being supported by the Company's network and centralised resources.

The Company's customer base covers both the residential and commercial sectors, with the principal customer groups being independent retailers and smaller flooring contractors alongside other groups such as larger retailers, housebuilders, specifiers, and local authorities.

Headlam is focused on providing customers with a market-leading service through:

   --    the broadest product offering; 
   --    unrivalled product knowledge and tailored solutions; 
   --    sales team and marketing support; 
   --    e-commerce support; and 
   --    nationwide delivery and collection service.

www.headlam.com

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October 07, 2021 02:00 ET (06:00 GMT)

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