PLEASE TELL US A LITTLE ABOUT YOURSELF SO THAT WE CAN DISPLAY THE MOST
APPROPRIATE CONTENT TO YOU:

This site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about cookies used on Trustnet and how you can manage them, see our Privacy and Cookie Policy.

By clicking "I Agree" below, you acknowledge that you accept our Privacy Policy and Terms of Use.

For more information Click here

Login

Register

It's look like you're leaving us

What would you like us to do with the funds you've selected

Show me all my options Forget them Save them
Customise this table
Share   Print      RSS

Macfarlane Group PLC (MACF)

Macfarlane Group PLC

Directorate Change
Macfarlane Group PLC
06 October 2003

                                                                  6 October 2003


MACFARLANE GROUP PLC ANNOUNCES APPOINTMENT OF NEW CEO


Macfarlane Group PLC is delighted to announce the appointment of Peter Atkinson
as a director, and as Chief Executive with immediate effect. He will assume
immediate responsibility for all executive tasks from Sir John Ward, who has
acted as Executive Chairman over the last six months.


Peter Atkinson has a strong sales and marketing pedigree through his career at
Procter and Gamble and S C Johnson. He has also significant general management
experience gained during his time at GKN PLC and its joint venture partners
where he worked from 1988 to 2001 in a number of senior executive roles in their
business to business operations. He has a successful track record of both
business turnarounds and business development with extensive exposure to
international business, having worked in the UK, Continental Europe and the USA.
In the last three years Peter Atkinson has been responsible for the USA
automotive and materials handling businesses of Brambles Industries PLC.


As indicated in the interim statement released on 26 August 2003, the board has
reviewed its own composition in line with the best interests of the Company
going forward, and appropriate Corporate Governance practice. As already
announced Mike Clark has joined the board as a non-executive director and his
appointment will bring a wealth of experience and understanding to its future
considerations. The board has also concluded that it should add two further
independent non-executive directors with directly relevant experience, and a
formal recruitment process has commenced.


Having stepped down from his executive role on the appointment of Peter
Atkinson, Sir John Ward considers it the appropriate time to also step down as
Chairman and is very pleased that Archie Hunter, who is currently an Independent
Non-Executive Director, will become Non-Executive Chairman with effect from 1
November 2003. Sir John will also step down as a director of the company on that
date. The board wishes to thank Sir John for taking on the role of Executive
Chairman during the last six months, following the resignation of the previous
Chief Executive.


Commenting on these changes Sir John Ward said, 'I am delighted that Peter
Atkinson is joining the board as Chief Executive. Peter was selected from a
strong list of candidates, and with his background and experience, I believe he
is ideally suited to take the company forward. The Directorship changes will
reinforce the independence of the non-executive board members, while creating a
new team to work with Peter.'


Peter Atkinson said: 'I am delighted to join Macfarlane Group at this time. The
Group has significant potential, with strong positions in a number of key market
sectors, and I look forward to leading the company to take advantage of these
opportunities. My immediate priority will be to focus on building sales momentum
and reducing the cost base in order to restore profitability. At the same time
there is a need to fully develop the strategic potential of the Group in order
to deliver sustainable shareholder value.'


In welcoming Peter Atkinson's appointment Archie Hunter the incoming
Non-Executive Chairman of Macfarlane Group commented: 'Macfarlane Group has a
range of challenges ahead and the board has chosen Peter because he has an
outstanding sales and marketing background, in depth business to business
experience and a clear understanding of the issues we face. This gives us the
confidence that he can lead Macfarlane Group through the challenges ahead and
maximise the potential in the company'.


Further information

Sir John Ward                        Chairman                     0141 333 9666

Press and Media
Gordon Beattie                                                    07768 588163



                      This information is provided by RNS
            The company news service from the London Stock Exchange              UUPWGQW
Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

You are currently using an old browser which will not be supported by Trustnet after 31/07/2016. To ensure you benefit from all features on the site, please update your browser.   Close