9th Jun 2008 09:00
H&T Group plc
('H&T' or 'The Group' or 'the Company')
Directorate Change
H&T Group plc, the UK's largest pawnbroker by value of pledge book today announces that its non executive chairman Peter Middleton plans to tender his resignation in September 2008.
Peter McNamara, currently non executive director will then take on the role of non executive chairman. Peter has served as group managing director of Alliance and Leicester plc following a successful career at Lloyds Bank plc where he was chief manager for strategic planning and subsequently the managing director of personal banking.
The Company has now commenced the process for recruiting a new non-executive director to join the Board.
Peter Middleton commented:
"After having served the Group as chairman for four years now, I feel that the time has come to step down.
I am very pleased that my colleague Peter will take over the role of chairman of the Group. Peter has been with us for over two years and his presence will provide continuity at the helm of the Board.
I am proud of the results achieved by the Group during my time. From the 54 stores we had at the time of the MBO in September 2004, the Group has grown to 93 stores now with additional stores planned for the rest of the year. As importantly, this growth is reflected in the Group profitability which reached the £10m operating profit milestone in 2007. Our investments in acquisitions and greenfields over the last four years should benefit the business in the future.
I am particularly happy to have worked with the Group during its formative period and wish all involved the best of luck for the future."
John Nichols, CEO commented:
"I would like to thank Peter for the dedication he has shown both the Board and the wider group over the years. He has been of enormous help personally during his time as chairman. He will be deeply missed.
I look forward to an equably profitable relationship with Peter McNamara, taking the Group on to new heights."
9 June 2008
ENQUIRIES:
H&T Group plc Tel: 0870 9022 600John Nichols, Chief ExecutiveLaurent Genthialon, Finance Director
Related Shares:
H&t Group Plc