3
September 2024
Ultimate Products plc
"Ultimate Products" or "the
Group"
Non-Executive Director Board
Changes
Ultimate Products, the owner of a
number of leading homeware brands including Salter (the UK's oldest
houseware brand, est.1760) and Beldray (est.1872), announces the
appointment to the Board of two new Non-Executive Directors -
Andrew Milne and José Carlos González-Hurtado - both with effect
from 28 October 2024. In addition, Jill Easterbrook has notified
the Board of her intention to step down as a Non-Executive Director
on the same date.
Andrew has been CEO of AIM-listed
Nichols plc, a diversified soft drinks business, since 2021 having
joined Nichols as Commercial Director in 2013. He was previously a
Sales Director for Coca Cola Enterprises, prior to which he held a
variety of commercial roles at GSK, after having started his career
at Marks & Spencer. He holds a BSc in Business and Technology
from Sheffield Hallam University.
José Carlos is Senior Advisor to
global private equity firm Advent International and to Roland
Berger, an international management consultancy. He is a member of
the Advisory Board of Dichter & Neira, a leading international
data and market research company, and until recently was an advisor
to Mintec Ltd, a leading provider of global commodity price data
and market intelligence. He was previously President of
International for Information Resources, Inc., a technology and
data company, Group Chief Commercial Officer for international
retailer Carrefour, and VP and Officer at Procter & Gamble,
where he spent more than 20 years and has led a variety of global
and regional businesses. He holds an MBA and a Masters in Law
(equivalent) from Universidad Pontificia Comillas (Madrid) and has
lectured on Marketing and Business subjects in several universities
in Spain and Israel.
Christine Adshead, Chair of Ultimate Products,
commented:
"I
am delighted to be welcoming two exceptionally high calibre
individuals to the Board of Ultimate Products in the form of Andrew
and José Carlos. Andrew brings with him an in-depth knowledge of
the UK consumer goods landscape and a track record of success in a
variety of commercial and management roles. José Carlos' vast
experience of running and advising businesses across Europe will be
hugely additive to our own ambitious growth plans for that region.
I would also like to thank Jill for her significant contribution to
Ultimate Products in her four years on the Board, and to wish her
the very best for her future endeavours."
Other than the directorships
disclosed above for Andrew Milne and José
Carlos González-Hurtado, there are no
matters requiring disclosure under UK Listing Rule
6.4.8.
For
more information, please contact:
Ultimate Products +44 (0) 161 627
1400
Andrew Gossage, CEO
Chris Dent, CFO
Shore Capital +44 (0) 20 7408
4090
Mark Percy
Malachy McEntyre
David Coaten
Harry Davies-Ball
Isobel Jones
Cavendish Capital Markets Limited +
44 (0)20 7220 0500
Carl Holmes (Corporate
Finance)
Matt Goode (Corporate
Finance)
Abigail Kelly (Corporate
Finance)
Charlie Combe (ECM)
Sodali & Co +44 (0) 207 250
1446
Rob Greening
Sam Austrums
Oliver Banks
This announcement is made in
accordance with UK Listing Rule 6.4.6.
Notes to Editors
Ultimate Products is the owner of a
number of leading homeware brands including Salter (the UK's oldest
houseware brand, established in 1760) and Beldray (a laundry, floor
care, heating and cooling brand that was established in 1872).
According to its market research, nearly 80% of UK households own
at least one of the Group's products.
Ultimate Products sells to over 300
retailers across 38 countries, and specialises in five product
categories: Small Domestic Appliances; Housewares; Laundry; Audio;
and Heating and Cooling. Other brands include Progress (cookware
and bakeware), Kleeneze (laundry and floorcare), Petra (small
domestic appliances) and Intempo (audio).
The Group's products are sold to a
broad cross-section of both large national and international
multi-channel retailers as well as smaller national retail chains,
incorporating discount retailers, supermarkets, general retailers
and online retailers.
Founded in 1997, Ultimate Products
employs over 370 staff, a significant number of whom have joined
via the Group's graduate development scheme, and is headquartered
in Oldham, Greater Manchester, where it has design, sales,
marketing, buying, quality assurance, support functions and
warehouse facilities across two sites. Manor Mill, the Group's head
office, includes a spectacular 20,000 sq ft showroom that showcases
each of its brands. In addition, the Group has an office and
showroom in Guangzhou, China and in Paris, France.
Please note that Ultimate Products
is not the owner of Russell Hobbs. The company currently has
licence agreements in place granting it an exclusive licence to use
the "Russell Hobbs" trademark for cookware and laundry (NB this
does not include Russell Hobbs electrical appliances).
For further information, please
visit www.upplc.com.