Directorate Change

PREMIER FARNELL PLC - Directorate Change

PR Newswire

London, August 14

14 August 2015

Premier Farnell plc

Directorate change

Premier Farnell plc (“the Group”), a global leader in the high service distribution of technology products and solutions, announces the appointment of Mark Whiteling as Interim Chief Executive Officer. Mark was previously Chief Financial Officer (“CFO”) of the Group. Laurence Bain steps down as Chief Executive Officer (“CEO”) with immediate effect. 

A search process to identify a CEO has been initiated, which will evaluate both internal and external candidates. Following Mark’s appointment as Interim CEO, his CFO responsibilities have been transferred to a team led by Steven Webb, General Counsel and Company Secretary.

The Group will announce its Half Year Results on 17 September 2015 at which time it will also provide an update on the review of the Group’s operations announced in its trading update of 29 July 2015.

Val Gooding, Chairman of Premier Farnell, said:

“Laurence has been a director of the Company since 2003 and Chief Executive for the last three years. During his time as CEO Laurence has led the Company’s transformation to a web-based business, developed a global operating model and management structure, and introduced an innovative and differentiating strategy.

“However, whilst these initiatives provide a solid platform for the future, the Company’s recent results have been disappointing and the Board has concluded that the time is right for a change of leadership.

“On behalf of the Board, I would like to thank Laurence for his commitment and dedication to Premier Farnell and we wish him every success for the future.”

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