4th Oct 2024 17:55
(Alliance News) - Distribution Finance Capital Holdings PLC on Friday announced that Chief Financial Officer Gavin Morris intends to retire, effective December 31, 2025.
Distribution Finance is a provider of financing solutions for dealers and manufacturers in the UK.
The board has already started the process to identify a successor for the CFO role, and said it would provide further update when a candidate is appointed.
The firm added that Morris will continue to play "an active role" in the group as an executive director through an extended handover period until his retirement date at the end of 2025, "allowing for a smooth transition to his successor".
"Gavin has been instrumental on DF Capital's growth journey and the group receiving authorisation as a bank just over four years ago. Whilst Gavin will be undoubtedly missed, I understand and respect his desire to step back from executive duties to fulfil non-executive and consultancy roles closer to his family home in Bristol. I'm delighted that he will remain with us until the end of 2025, supporting an effective handover once the board has identified a suitable candidate to lead our finance team as we progress our ambitious plans to further scale the group and deliver mid-to-high teens returns for our shareholders over the medium term," said Chief Executive Carl D'Ammassa.
Shares in Distribution Finance Capital Holdings closed 2.1% lower at 29.36 pence each in London on Friday.
By Holly Beveridge, Alliance News senior reporter
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