Business
CEO departure and succession plan
Princes Group plc announced that CEO Simon Harrison will step down on June 30, 2026, after five years with the company, including two as CEO. Giuseppe Mastrolia, currently Chief Commercial Officer, will serve as Interim CEO from July 1, 2026, bringing extensive executive leadership experience from his previous nine-year tenure as CEO of NewPrinces Group. The company confirmed that trading remains in line with expectations, indicating stability despite the leadership transition. Disclaimer*
About this update from Princes Group Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED UNDER ASSIMILATED REGULATION (EU) NO. 596/2014 WHICH IS PART OF THE LAWS OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED)\n \nFOR IMMEDIATE RELEASE\n \n \n \n19 May 2026\nPrinces Group plc\n(\"Princes\", the \"Group\" or \"the Company\")\n \nCEO departure and succession plan\n \nThe Board of Princes Group plc (LSE: PRN), a leading international platform in the United Kingdom and European food and beverage sector, announces that Simon Harrison is stepping down as Chief Executive Officer and board director with effect from 30th June 2026 in order to pursue a new opportunity. Simon has served the Group for five years, including the last two years as Chief Executive Officer.\n \nThe Board has commenced a formal succession process to appoint a permanent Chief Executive Officer. In the meantime, Giuseppe Mastrolia, currently Chief Commercial Officer and Executive Board Director, has been appointed as Interim Chief Executive Officer with effect from 1st July 2026.\n \nGiuseppe joined the Group in July 2024 as a board director following the acquisition of Princes by NewPrinces and was appointed Chief Commercial Officer last Autumn. Since becoming Chief Commercial Officer, Giuseppe has been based at the Group's headquarters in Liverpool and has played an important role in the development and execution of the Group's commercial strategy. He also brings significant executive leadership experience, having served as Chief Executive Officer of NewPrinces Group for the past nine years.\n \nThe Board confirms that the Group continues to trade in line with expectations.\n \nAngelo Mastrolia, Chairman, said: \"On behalf of the Board, I would like to thank Simon for his contribution and leadership of the Company through the integration of Princes and especially during the transition to a publicly listed company on the London Stock Exchange. We wish him well for the future.\"\n \nSimon Harrison said: \"Princes is well positioned for the future and I look forward to seeing its continued success....