14th Mar 2019 09:15
LONDON (Alliance News) - Windows and door components maker Tyman PLC said Thursday Chief Financial Officer James Brotherton will leave the firm at the end of July after being poached by Safe Harbour Holdings PLC.
Brotherton - CFO since 2010 - will leave Tyman at the end of July, following the release of results for the six months ended June, to take up the same role at Safe Harbour. A search for his replacement is now "underway" with an announcement in due course.
"On behalf of the board I would like to thank James for the important role he has played in the development of Tyman into the significant global business it is today," Tyman Chair Martin Towers said.
Towers added: "James has been with the group for 15 years, and in this context I fully understand his desire to seek a new career opportunity. The board wishes James every success in his future career."
In a separate announcement Thursday, business-to-business distribution investor Safe Harbour explained that - during Brotherton's tenure as finance chief at Tyman - Tyman had "doubled in size and profitability."
Safe Harbour Chief Executive Officer Rodrigo Mascarenhas added the firm was "excited" Brotherton would be joining the firm at this "important" stage in its development.
"Safe Harbour is focused on building a world-class, market-leading business, and James' impressive track record at Tyman and strong investment background will be of great benefit to the team and our shareholders", Mascarenhas added.
Shares in Tyman were 3.0% lower at 247.00 pence on Thursday, while Safe Harbour was unchanged at 132.50p.