20th Jun 2025 11:17
(Alliance News) - IG Design Group PLC on Friday said Chief Executive Officer Paul Bal is stepping down with immediate effect.
IG Design is a Buckinghamshire, England-based designer and manufacturer of celebration products, including greeting cards, gift wrap, Christmas crackers, gift bags, and partyware.
Chair Stewart Gilliland will take on the role of executive chair on an interim basis until a permanent replacement has been found.
Last month, the company sold its DG Americas division for USD1, as it said the headwinds facing the North American business were "untenable," amid weak demand and the evolving tariff situation.
"The board would like to formally acknowledge and thank Paul for his role in the recent successful divestiture of DG Americas at an important point of the group's seasonal peak working capital period, which has protected the wider group from further financial and operational impact," Interim Executive Chair Gilliland said.
IG Design confirmed that it expects to publish its results for the 12 months to the end of March later than under its usual reporting timetable, as previously announced.
In January, it said it expects revenue to fall by around 10% compared to the prior year. It said adjusted profit would be around "break-even", and "well below" last year, when it was USD25.9 million.
Shares in IG Design were down 0.9% at 89.20 pence in London on Friday morning. The shares have dropped 62% in the last 12 months.
By Michael Hennessey, Alliance News reporter
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