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RNS Number : 1738O
Norcros PLC
30 January 2023
Norcros plc
("Norcros" or "the Company")
CEO Succession
Norcros plc, a market leading supplier of high quality and
innovative bathroom and kitchen products, announces that after 30
years with the Company, Nick Kelsall, Chief Executive Officer, has
notified the Board of his intention to retire. Nick will step down
as CEO and from the Board with effect from 31 March 2023. Following
a rigorous recruitment process, Thomas Willcocks, who is currently
the Group's UK Business Director, will succeed Nick as CEO.
Nick was appointed CEO in April 2011 and over the last 12 years
has transformed the Group through the successful execution of a
focussed growth strategy into a highly profitable and resilient
market-leading business with strong brands. The Group has delivered
an enviable track record of sustained domestic and international
growth during Nick's leadership, through his strategic vision and
business acumen. Nick previously served as the Group's Chief
Financial Officer from October 1996, having joined Norcros in 1993.
To ensure a smooth and effective handover, Nick will remain an
employee for a period of twelve months from today.
Thomas Willcocks will assume the role of Chief Executive Officer
effective 1 April 2023, until then he will be CEO Designate. Since
August 2021, Thomas has been a member of the Executive Team at
Norcros as Business Director UK with operational responsibility for
the Group's UK business segment. Prior to his move to the UK,
Thomas was, from 2009, Managing Director of Norcros South Africa
where he led the transformation and profitable growth of the South
African business.
Commenting on these changes, David McKeith, Acting Board Chair,
said:
"Nick has devoted the majority of his career to Norcros and has
converted it into the resilient, profitable and market leading
business it is today. I know that all Norcros shareholders,
directors and staff will join me in thanking him profusely for
everything he has done for the Group. We all wish him well for the
future."
"Thomas has been a key executive, in South Africa and now in the
UK, throughout my time on the Norcros board. I am delighted to see
his appointment to CEO from 1 April 2023. The Board has every
confidence that he will build on Norcros's strong position and
continue our growth trajectory."
Nick Kelsall commented: "It has been both a privilege and an
honour to lead the Norcros business which has been a huge part of
my life. Norcros has been transformed and is unrecognisable from
the business that I joined 30 years ago. The business is in great
shape with huge opportunities, and I am immensely grateful for the
support of the very talented colleagues that I have worked with
right across our business globally. I wish them every success for
the future. I know they will continue to offer Thomas their full
support and I am confident that the business will continue to
prosper in the years ahead."
The Company will release its next trading update on 13 April
2023 post its year end on 31 March 2023.
Notes:
1. There are no disclosures concerning Thomas Willcocks to be
made under Listing Rule 9.6.13.
2. For the purposes of MAR and Article 2 of Commission
Implementing Regulation (EU) 2016/1055, this Announcement contains
inside information relating to directorate changes at Norcros plc.
This Announcement is being made on behalf of the Company by Richard
Collins, Group Counsel and Company Secretary.
3. Norcros plc's Legal Entity Identifier is
213800EIMJZZA1GBIE18
Further enquiries:
Norcros plc Tel: 01625 547 700
David McKeith, Acting Board Chair
Nick Kelsall, Chief Executive
Officer
James Eyre, Chief Financial Officer
Hudson Sandler Tel: 0207 796 4133
Nick Lyon
Notes to Editors
Norcros is a market leading supplier of high quality and
innovative bathroom and kitchen products with operations primarily
in the UK and South Africa.
Based in the UK, Norcros operates under eight brands:
-- Triton - Market leader in the manufacture and marketing of showers in the UK
-- Merlyn - The UK and Ireland's No.1 supplier of shower
enclosures and trays to the residential, commercial and hospitality
sectors
-- Vado - A leading manufacturer and supplier of taps, mixer
showers, bathroom accessories and valves
-- Croydex - A market-leading, innovative designer, manufacturer
and distributor of high quality bathroom furnishings and
accessories
-- Abode - A leading niche designer and distributor of high
quality kitchen taps, bathroom taps, and kitchen sinks
-- Johnson Tiles - The leading manufacturer and supplier of ceramic tiles in the UK
-- Norcros Adhesives - Manufacturer of tile and stone adhesives, grouts and related products
-- Multipanel - Grant Westfield is a leading manufacturer of
high-end waterproof bathroom wall panels
Based in South Africa, Norcros operates under four brands:
-- Tile Africa - Chain of retail stores focused on ceramic and
porcelain tiles, and associated products such as sanitaryware,
showers and adhesives
-- Johnson Tiles South Africa - Manufacturer of ceramic and porcelain tiles
-- TAL - The leading manufacturer of ceramic and building adhesives
-- House of Plumbing - Market leading supplier of specialist plumbing materials
Norcros is headquartered in Wilmslow, Cheshire and employs
around 2,400 people. The Company is listed on the London Stock
Exchange. For further information please visit the Company website:
http://www.norcros.com
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END
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January 30, 2023 02:00 ET (07:00 GMT)
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