Business
Board Succession Plan
Board Succession Plan.
About this update from Angling Direct Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n 28 February 2023\n \n \n \n \n \n \n \n \n \n Angling Direct plc\n \n \n \n (\"Angling Direct\n \",\n the \"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n Board Succession Plan\n \n \n \n \n \n \n Angling Direct plc (AIM: ANG), the leading omni-channel specialist fishing tackle and equipment retailer, today announces its Board succession plan that will involve the following changes:\n \n \n \n \n \n ·\n Andy Torrance will step down from his role as Chief Executive Officer (CEO) and be appointed Non-executive Chairman\n \n \n ·\n Steve Crowe, Angling Direct's Chief Financial Officer (CFO), has been chosen by the Board to replace Andy and will be appointed CEO\n \n \n ·\n Martyn Page, will step down from his role as Non-executive Chairman and will remain on the Board as a Non-executive Director\n \n \n ·\n The Board has initiated a search for a new CFO using external consultants\n \n \n \n \n \n The timing of these changes is dependent on the recruitment of an experienced CFO to work alongside Steve to deliver the Group's growth strategy, with the earliest potential implementation to coincide with the Annual General Meeting in June 2023.\n Andy will now begin the process of handing over his responsibilities as CEO to Steve.\n The Company will release a further announcement upon the above changes taking effect.\n \n \n \n \n \n Andy Torrance joined Angling Direct as a\n Non-executive Director in 2019 before stepping into the CEO role in February 2020. Andy successfully navigated the Company through Covid-19 and the various lockdown and trading restrictions that were imposed, minimised the impact of an extensive cyber-attack in 2021 while also developing the Group's growth strategy which included delivering the new European distribution centre to mitigate Brexit disruption and grow market share. Andy's new Chair role will ensure that the business retains his specialist omni-channel retail skills while also benefitting from the stakeholder relationships he has built across the customer and supplier base since joining the Group.\n \n \n \n \n \n Steve Crowe joined the business as CFO in 2020 having held executive finance roles at Aviva and Validus Ltd. Upon joining the Company, Steve was instrumental in professionalising the finance function, improving i...