24th Apr 2020 10:39
(Alliance News) - SIG PLC said Friday it has appointed Steve Francis as chief executive officer on a permanent basis.
In late February, Francis had been chosen to head the FTSE 250 construction products supplier on an initial contract until the end of 2020.
He replaces Meinie Oldersma, who stepped down after three years in the role since 2017.
Francis was parachuted in as CEO of scandal-rocked Patisserie Holdings in November 2018, serving until February 2019.
Patisserie ceased trading in London in February last year after the discovery in October 2018 of a GBP40 million black hole in its financial accounts due to potentially fraudulent accounting irregularities.
Prior to joining Patisserie, Francis led the turnaround of printing equipment supplier Danwood Group Holdings Ltd as CEO.
"Steve has demonstrated strong leadership in the most testing circumstances since his original appointment. His ability to navigate the effects of the Covid-19 environment, at the same time as getting the leadership team focused on the strategic priorities to ensure the future success of SIG, has been exceptional," said Chair Andrew Allner.
Shares in SIG were down 1.5% at 19.94 pence on Friday in London.
By Dayo Laniyan; [email protected]
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