13th Jul 2005 07:00
McBride PLC13 July 2005 12 July 2005 McBride PLC Board changes McBride PLC (the "Company") announces that Mike Handley has stepped down asChief Executive and resigned as a Director of the Company with immediate effectto pursue other opportunities. Mike Handley has been succeeded as ChiefExecutive by Miles Roberts, previously the Group Finance Director. Commenting on the Board changes, Lord Sheppard, Chairman said: "Mike led the management buy-in in 1993 and subsequent flotation and I wouldlike to thank him for his major contribution to the success of the business. Iwish him well for the future. I am delighted to announce that Miles has taken up the role of Chief Executive.Miles joined the Company in early 2002 as Group Finance Director and for thelast 10 months has also successfully taken responsibility for the UK business.He has played a central role in the significant improvements in bothprofitability and cashflow achieved since 2002. He is ideally suited to ensurethe Group meets the challenges and captures the opportunities that the comingyears will present. The recruitment of a new Group Finance Director is underway. The Group is very well placed as Europe's premier producer of private labelhousehold and personal care products for the major retailers. The Board iscommitted to seeing the Group's full potential realised. As outlined in our statement of 23 June 2005 the results for the year ended 30June 2005, which will be announced on 8th September 2005, are expected to showoperating profit before goodwill amortisation and exceptional items, in theregion of £35m and a continuing strong cashflow. We remain committed to focusingon growing profitable sales in addition to improving operational efficiency andasset utilisation." Enquiries: Miles Roberts, Chief Executive, McBride PLC 01494 607050Andrew Dowler, Financial Dynamics 0207 831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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