14th Jul 2006 12:30
Electrocomponents PLC14 July 2006 Embargoed to 12.30pm 14 July 2006 ELECTROCOMPONENTS PLC Electrocomponents plc, the leading international high service distributor, hastoday issued a trading statement and details of Board changes at its AnnualGeneral Meeting. Trading Update We announced our results for the year ended 31 March 2006 on 1 June 2006 andprovided a review of current trading as part of that announcement. During the first quarter of the financial year International sales haveincreased at around 16% and the UK has been flat, giving overall growth for theGroup of around 9%, adjusted for trading days and exchange rate movements. Change to Board of Directors Bob Lawson, the Chairman, has announced that he will be retiring from theCompany in October and will be handing over to Helmut Mamsch. Helmut will beappointed to the Board on 1 September 2006 as Chairman designate and, followinga handover, will take over as Chairman at the October Board meeting. Bob Lawson has made an enormous contribution to the development of EC plc overhis 26 years with the business. The Board wishes to express its thanks to Bobfor his leadership and contribution throughout this time and wishes him everysuccess with his future plans. Helmut Mamsch is a German national and a UK resident who has operated throughoutEurope, Asia and the USA. He has significant relevant experience includingoperational responsibility for VEBA's US electronic businesses. Bob Lawson, Chairman, commented: "Revenues from our international businessesare growing strongly and now represent over half of the total. Helmut willbring considerable international perspective across a wide range of sectors andI am delighted to welcome him to our Board. After such a long association withElectrocomponents I am pleased to leave the leadership of the business in suchgood hands". Background on Bob Lawson Bob Lawson has worked for EC plc for 26 years in total. He has been Chairmanfor the past 5 years and prior to that was CEO for 10 years. Bob joined thebusiness in 1977 as Sales Director of RSUK. As CEO, Bob led the internationalisation of the Group taking what wasessentially a UK business and establishing a global footprint of 26 OperatingCompanies, and the leading position in e-Commerce, the Group has today. Thesuccessful acquisition of Allied in the US and the creation of the GroupwideProcesses completed the global infrastructure. 57% of the Group's turnover isnow outside the UK and 25% of sales are over the web. As Chairman, Bob has seen through the development of the new Group strategy andthe successful implementation of EBS in the UK. Good progress has been made inthe first year of our declared 3 year plan as reported recently. The people and culture of EC plc have been greatly influenced by Bob through hisexample and passionate commitment to service and people. Bob is also Chairman of Hays plc. Background on Helmut Mamsch Born in Bergen in 1944 Helmut Mamsch studied economics at the Bremen School ofForeign Trade and also received training in business administration and shippingin Germany, the UK and Belgium. He worked for Continho Caro & Co., an international trading and shippingcompany, for 20 years, joining the Management Board in 1986. From 1989 to 2000he worked for VEBA AG (now E.ON AG), Germany's largest utility-basedconglomerate, where he held various roles including: Chairman of the ManagementBoard of Raab Karcher AG, Board member of VEBA Oel AG, Chairman of theManagement Board of Stinnes AG. Concurrently in 1993 he was appointed to theVEBA AG Management Board assuming responsibility for their corporate strategyand development and for the US electronic businesses in 1998. He has significant Board experience including being a former Supervisory Boardmember of Commerzbank AG, Degussa AG, Steag AG and former Chairman of MEMC Inc.He was also a Non Executive Director of RMC Group until it was acquired byCemex. Currently Helmut is Deputy Chairman of Logica CMG plc and a non executivedirector of both GKN plc, an automotive and aerospace company, and SAPPI Ltd, amajor fine paper producer. He is also a Supervisory Board member of K+S AG andCemex Deutschland. Other than his directorships above, there is no information required to bedisclosed pursuant to LR 9.6.13. Contacts: Bob Lawson Chairman 01865 204000Ian Mason Chief Executive 01865 204000Simon Boddie Group Finance Director 01865 204000Diana Soltmann Flagship Consulting Ltd 0207 886 8440 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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