11 October 2013 – directorate changes
Russ Singleton will be the new Chief Executive Officer and Glenn Robinson will join as Group Finance Director. Wilson Jennings will step down from the Board with immediate effect, having provided 14 years of service to the company. However, he will remain with the Group for a hand over period of up to three months. Mark Elliott will continue to act as Executive Chairman whilst the Group’s business and overall strategy are reviewed before becoming Non-Executive Chairman. A share option package will offer an incentive for success. We rate the shares as a BUY.