21st Aug 2018 09:27
LONDON (Alliance News) - Model maker Hornby PLC said Tuesday it has promoted Non-Executive Director John Stansfield to the non-executive chairman post with immediate effect.
Stansfield - a non-executive director since December - will replace current Interim Chairman and Chief Executive Officer Lyndon Davies. Stansfield - a qualified accountant - has been with Hornby for over 30 years, including 12 years as finance director.
"Working with John since he joined the board eight months ago has been a real pleasure and I look forward to working with him in his new role as chairman," Davies said. "His accumulated knowledge over three decades at the company has helped us navigate some of the difficult changes we are making. I can't think of a better person to lead the board through this important period and beyond."
Shares in Hornby were 4.0% lower at 32.06 pence on Tuesday.
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