Business
CEO Succession
Braemar Plc announced a CEO succession plan where current Group CEO James Gundy will step down at the AGM on July 2, 2026, and remain with the company focusing on shipbroking. Grant Foley, currently Group CFOO, will succeed Gundy as Group CEO. The company is actively searching for a replacement CFO. Braemar continues to trade in line with market expectations, with consensus revenue of £132.0 million and underlying operating profit of £13.2 million for the year ending February 28, 2026. The company aims to achieve revenues of £200 million by FY30. Disclaimer*
About this update from Braemar Plc
[{"type":"text","content":"\n\n\n \n17 February 2026\n \nBRAEMAR PLC\n(\"Braemar\", \"the Company\" and together with its subsidiaries the \"Group\")\nCEO SUCCESSION\nBraemar Plc (LSE: BMS), a leading provider of expert investment, chartering and risk management advice to the shipping and energy markets, today announces that James Gundy, Group Chief Executive Officer (\"Group CEO\"), has informed the board of his intention to step down as Group CEO and as a director of the Company at the next Annual General Meeting to be held on 2 July 2026, after which he will remain with the business and focus on his shipbroking activities.\nThe board is pleased to announce that it has chosen Grant Foley, currently the Group's Chief Financial and Operating Officer (\"CFOO\"), to succeed James as the Group CEO. \nGrant joined Braemar in August 2023, initially as the Group's CFO, bringing with him a wealth of commercial and transactional expertise, gained in senior finance and operational roles, in both the public and private sectors. Grant was quickly elevated to CFOO where he has been instrumental in helping grow the business alongside James. To ensure a smooth transition, James will continue to work closely with Grant over the coming months.\nThe search for a replacement CFO is in progress, and a further announcement will be made in due course. \nThe Group continues to trade in line with market expectations[1] and expects to give an update on full year trading towards the end of March 2026.\nNigel Payne, Non-executive Chairman said:\n\"On behalf of the board, I would like to thank James for his contribution to the business over the past five years as Group CEO. Within that time, James has re-shaped Braemar, profitably disposing of non-core business, eliminated a large debt burden and created a far more diversified and resilient shipbroking business. I am delighted that, after standing down, James will stay with the Group to look after his broking clients.\n\"Grant has impressed the board in both his finance and operational roles and has demonstrated the necessary breadth of expertise to execute the board's strategic plan to deliver revenues of £200 million by FY30. The board and I look forward to working with him in his new role as Group CEO.\nWith a strong leadership team and a clear growth strategy in place we remain focused on delivering against ...