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ScS names finance chief successor, effective in early September

4th Jul 2023 12:23

(Alliance News) - ScS Group PLC on Tuesday said it appointed Mark Fleetwood as chief financial officer, while current CFO Chris Muir will remain as an executive director until late 2023.

The Sunderland, England-based upholstered furniture and flooring retailer said Fleetwood will join the board and take up his role as CFO on September 4.

ScS said Fleetwood has "significant" retail and public listed company experience, having most recently spent five years as CFO at North East England-based, digital-led fashion retailer END. Clothing Ltd.

At END., Fleetwood supported the company's high-growth ambitions with revenue more than doubling to around GBP220 million. Prior to this, he was corporate finance director at residential landlord Grainger PLC.

ScS said incumbent CFO Muir will remain "actively involved" with the business as executive director to ensure an orderly transition and to oversee the publication ScS's preliminary results in October.

Muir will remain available until late 2023, ScS said when he will formally step down from the board after serving his 12-month notice. Muir notified the board of his resignation plans in December.

"Mark is a fantastic addition to our business and brings significant digital, retail and PLC experience to the board. He has a growth mind-set and strong track record of delivery, which will support us as we continue to progress our strategy. Mark will play a key part in the continued development of our growth plans and ambitions for the future, and we look forward to welcoming him," said Chief Executive Officer Steve Carson.

Incoming CFO Fleetwood added: "I have been impressed by the team at ScS and their desire to move the business forward. I'm very much looking forward to getting to know the group and its people, and to working with Steve, the wider team, and the board, to help develop and deliver the strategy, and to continue to build value for stakeholders."

Shares in ScS were up 0.2% to 151.00 pence each in London on Tuesday after midday.

By Greg Rosenvinge, Alliance News reporter

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