11th Jun 2020 14:37
(Alliance News) - McBride PLC on Thursday said it appointed Chris Smith - who joined the firm in 2015 as finance boss - as chief executive with immediate effect.
"Over the five years Chris has been with McBride, he has demonstrated his strong international leadership capabilities in multi-site and multi-country organisations," said Chair Jeff Nodland.
The cleaning and hygiene products supplier explained that Ludwig de Mot, who was appointed CEO in November 2019, has left McBride, also immediately.
McBride said its Nomination Committee has commenced a search for a CFO and in the meantime it intends to appoint an external candidate as interim who will be supported by the company's finance team.
"I firmly believe in our ability to create sustained value for our shareholders as we continue to evolve and adapt this business for the future," said Smith.
McBride added that there has been no material change in its trading or financial prospects since its May trading update.
Demand for its products has "moderated" following the surge caused by lockdowns, but is still above levels seen year before, McBride said. As a result, full-year adjusted pretax profit is expected to be 15% higher than current market expectations, at GBP18.6 million.
McBride shares were down 3.4% at 63.75 pence in London on Thursday afternoon.
By Evelina Grecenko; [email protected]
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