TIDMSPEC
RNS Number : 1762I
Inspecs Group PLC
01 December 2022
1 December 2022
Inspecs Group plc
("Inspecs" or "the Group")
Appointment of Non-Executive Directors
Inspecs Group plc, a designer, manufacturer and distributor of
eyewear frames and prescription lenses to the optical trade, is
pleased to announce the appointment of Shaun Smith and Hugo Adams
as Non-Executive Directors with effect from today, to strengthen
the Board and assist in the delivery of the Group's strategic
goals.
Shaun has extensive plc experience having previously held CFO
roles with Norcros plc and Aga Rangemaster Group plc. In his role
at Aga Rangemaster Group plc, Shaun helped oversee the
transformation of the business into an international brand-led
manufacturer and retail group. Shaun has served as a Non-Executive
Director on public company Boards since 2016 including as Audit
Committee chair. He is currently a Non-Executive Director of Epwin
Group plc. On appointment, Shaun will join the Audit & Risk and
Remuneration & Nomination Committees.
Hugo has more than 25 years' experience working for some of the
biggest and best-known, global consumer brands including The Body
Shop and running marketing and international expansion at Dyson.
During nine years at Marks and Spencer Group PLC he managed
businesses across Europe and the Middle East, as well as being
Chief of Staff to the CEO and subsequently Property Director. Hugo
served on the Executive Board at Superdry Plc, responsible for
marketing and business development and most recently as CEO of
Start-Rite Shoes. Hugo will serve on the Audit & Risk,
Remuneration and Nomination and the newly formed Environmental,
Social and Governance committee on appointment.
Richard Peck, who has served on the Board as a Non-Executive
Director since January 2020, today assumes the role of Group CEO.
With over 35 years' experience in the optical industry, Richard
brings a wealth of knowledge having previously been Managing
Director of Luxottica Retail Northern Europe and Managing Director
of David Clulow opticians. Richard and Robin Totterman will work
closely together, along with the Board, to develop the Company's
global position as a leading player in eyewear solutions through
its vertically-integrated frame and lens capabilities.
Robin Totterman, Inspecs Group plc Founder and Executive Chair,
said:
"I am delighted to welcome Shaun and Hugo to the Board of
Inspecs. Shaun has extensive PLC experience having held a variety
of finance roles in international manufacturing and retail groups,
whilst Hugo brings significant experience in the retail sector and
a proven track record of delivering growth for purpose-led consumer
brands.
"Today's appointments come at an important time for the Group as
Richard simultaneously steps into the role of Group CEO, and I
assume the role of Executive Chair. The Board is delighted that
Richard has become CEO with his extensive business development
skills gained at Luxottica and is confident he is the right person
to lead Inspecs through the next stage of its growth."
For further information please contact:
Inspecs Group plc via FTI Consulting
Robin Totterman, Executive Chair Tel: +44 (0) 20
Richard Peck, CEO 3727 1000
Chris Kay, CFO
Peel Hunt (Nominated Adviser and Broker) Tel: +44 (0) 20
Adrian Trimmings 7418 8900
Andrew Clark
Lalit Bose
FTI Consulting (Financial PR) Tel: +44 (0) 20
Alex Beagley 3727 1000
Harriet Jackson
Alice Newlyn
The following information regarding Shaun Michael Thomas Smith
(aged 61) is disclosed under Schedule 2(g) of the AIM Rules for
Companies:
Current Directorships Directorships held in past
5 years
Epwin Group PLC Air Partner Limited
---------------------------------
00495630 Limited Christa (271) Pty Limited
---------------------------------
Croydex Group Limited
---------------------------------
Croydex Limited
---------------------------------
Hatherdown (1991) Limited
---------------------------------
Lincolnshire Properties (Norfolk
Street) Limited
---------------------------------
Merlyn Industries U.K. Limited
---------------------------------
Norcros (SA) Pty Limited
---------------------------------
Norcros Developments Limited
---------------------------------
Norcros Estates Limited
---------------------------------
Norcros Group (Holdings) Limited
---------------------------------
Norcros Group (Trustee) Limited
---------------------------------
Norcros Industry (International)
Limited
---------------------------------
Norcros PLC
---------------------------------
Queensgate Limited
---------------------------------
RAP Plumbing Supplies (Pty)
Limited
---------------------------------
Standard Engineering Plastics
Limited
---------------------------------
Tile Africa Windhoek Property
(Pty) Limited
---------------------------------
There are no other matters which are required to be announced
under Schedule 2(g) of the AIM Rules for Companies.
The following information regarding Hugo James Adams (aged 49)
is disclosed under Schedule 2(g) of the AIM Rules for
Companies:
Current Directorships Directorships held in past
5 years
Shades Of Blue Consulting Ltd Chester Business Park Management
Company Limited
---------------------------------
Cut4cloth Ltd
---------------------------------
James Southall & Company Limited
---------------------------------
Recoleta Bidco Limited
---------------------------------
Recoleta Topco Limited
---------------------------------
Start-Rite Retail Limited
---------------------------------
Start-Rite Shoes Limited
---------------------------------
Tots Bots Limited
---------------------------------
Hugo Adams owns 16,500 ordinary shares of 1 pence each in the
Group. There are no other matters which are required to be
announced under Schedule 2(g) of the AIM Rules for Companies.
Following the appointment of the Non-Executive Directors, the
members of the Committees will be as follows:
Audit and Risk Committee:
Chris Hancock (Chair)
Shaun Smith
Hugo Adams
Remuneration and Nominations Committee:
Chris Hancock (Chair)
Shaun Smith
Hugo Adams
Environmental, Social and Governance Committee:
Angela Farrugia (Chair)
Chris Hancock
Hugo Adams
About Inspecs Group plc
INSPECS is a Bath-based designer, manufacturer and distributor
of eyewear frames and optically advanced spectacle lenses. The
Group produces a broad range of frames and lenses, covering
optical, sunglasses and safety, which are either "Branded" (either
under licence or under the Group's own proprietary brands), or
"OEM" (including private label on behalf of retail customers as
well as unbranded).
INSPECS aims to be the leader in eyewear solutions through its
vertically-integrated business model and has adopted a three-pillar
growth strategy to achieve this: (i) continue to grow organically;
(ii) undertake further acquisitions (and drive value through
leveraging the Group's internal capabilities); and (iii) extend the
Group's manufacturing capacity.
The Group has completed several significant acquisitions since
its IPO in February 2020. In December 2020, INSPECS acquired
Eschenbach, a leading global eyewear supplier, headquartered in
Nuremberg, Germany, which includes the American company Tura. This
followed the acquisition of lens maker Norville in July 2020,
whereby INSPECS combined two British heritage brands, Savile Row
frame maker, and Norville lens maker, further enhancing its
vertically-integrated business model. In December 2021 the Group
acquired Ego Eyewear, a design and licensing company which uses
third party eyewear manufacturers to produce premium fashion
brands, and BoDe, a distributor of optical frames and sunglasses
principally to the German and neighbouring markets.
INSPECS customers include global optical and non-optical
retailers, global distributors and independent opticians, with its
distribution network covering over 80 countries and reaching
approximately 75,000 points of sale.
INSPECS has operations across the globe: with offices and
subsidiaries in the UK, Germany, Portugal, Scandinavia, the US and
China (including Hong Kong, Macau and Shenzhen), and manufacturing
facilities in Vietnam, China, the UK and Italy. With the
acquisition of Eschenbach, the Group's international reach further
extends across Europe and the American markets.
More information is available at: https://inspecs.com
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END
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December 01, 2022 02:00 ET (07:00 GMT)
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