Appointment of CFO and Group Finance Director

13 February 2025

FRANCHISE BRANDS PLC

("Franchise Brands", the "Group" or the "Company")

Appointment of Chief Financial Officer and Group Finance Director

The Board of Franchise Brands is pleased to announce the appointments of a Chief Financial Officer ("CFO") and a Group Finance Director.

Over the last six months, the Group has conducted a comprehensive search for a new CFO and has considered a number of external candidates from a range of AIM, Main Market and private equity backed company backgrounds, alongside internal candidates. During this time, the Board has also considered the wider needs of the business following the appointment of Peter Molloy in late 2024 as Chief Executive Officer ("CEO") and the Group's focus on the "One Franchise Brands" strategic initiative. This strategic initiative was launched by Peter to accelerate the pace of integrating the Group into one business to enhance sales, increase operational efficiency and reduce debt.

The Board has concluded that the optimal team to support Peter is an enhanced finance team providing both commercial and financial support. The roles of CFO and Commercial Director are therefore being combined under the role of the CFO, and a new position of Group Finance Director (non-board) has been created.

Andrew Mallows, the current interim CFO, will be appointed CFO on a permanent basis, reflecting his experience as CFO and Commercial Director in the eight years he has been with the business. Beth Peace, who has been with the business since 2019 and is currently Finance Director in the Water & Waste Services Division, will be appointed Group Finance Director.  Peter has worked with Andrew and Beth for many years and this experienced, proven team with a strong track record of delivery will provide Peter and his management team with valuable support.

In addition, Mark Boxall, who was appointed as Chief Operating Officer ("COO") (non-Board) last year, will continue to be responsible for driving integration, with a particular focus in the short term on the rollout of common Group-wide IT systems, which are a key part of the One Franchise Brands strategy.

The strengthened Group finance team will also be supported by Louise George, who was recently appointed to the board as an independent non-executive director and Chair of the Audit Committee. Louise has over 20 years of board-level experience with AIM-quoted companies, including substantial experience in franchised businesses.

Andrew Mallows, CFO, said:

"Since joining the Group eight years ago, I have been both CFO and Commercial Director. I now look forward to combining those two roles as CFO in the new structure that supports Peter as CEO and working with Mark as COO in executing the One Franchise Brands strategy. I am very pleased that we are continuing to develop talent from within the Group with the appointment of Beth as Group Finance Director and look forward to working closely with her in her new role."

Stephen Hemsley, Executive Chairman, said:  

"I am delighted that Andrew has accepted the role of CFO on a permanent basis and with Beth's appointment as Group Finance Director. Andrew and Beth are a proven team who have worked with Peter for many years and supported each other through periods of rapid growth and the more challenging Covid years. I am, therefore, confident that they will provide the Group with excellent financial leadership and that, in combination with Peter and Mark, we have a strong team to execute our near-term strategy of integrating the Group into one business to enhance sales, increase operational efficiency and reduce debt."

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About Franchise Brands plc

Franchise Brands is an international, multi-brand franchisor focused on B2B van-based service with seven franchise brands and a presence in 10 countries across the UK, North America and Europe. The Group is focused on building market-leading businesses primarily via a franchise model and has a combined network of over 625 franchisees.

The Company owns several market-leading brands with long trading histories, including Pirtek in Europe, Filta, Metro Rod and Metro Plumb, all of which benefit from the Group's central support services, particularly technology, marketing, and finance. At the heart of Franchise Brands' business-building strategy is helping its franchisees grow their businesses: "as they grow, we grow".

Franchise Brands employs over 700 people across the Group and over 3,000 people in the franchise community.

For further information, visit www.franchisebrands.co.uk