Business
Annual General Meeting and Board Responsibilities
Annual General Meeting and Board Responsibilities.
About this update from Smiths News Plc
[{"type":"text","content":"\n \nRNS Number : 4890B Connect Group PLC 31 January 2020 \n\n\n\n\n \n\n\n31 January 2020\n\n\n\n \n \nThis announcement contains inside information\n \nConnect Group PLC\n \n(\"the Group\" or \"Connect \")\n \nAnnual General Meeting and Board Responsibilities \n \n \nConnect Group PLC, a leading specialist distributor, holds its Annual General Meeting at 11.30am today. Chairman Gary Kennedy will confirm to the meeting the continued progress being made with the strategic review of Tuffnells, which was announced in November 2019. Mr Kennedy will also tell the meeting that after five years in the role of Chairman he intends to step down from the Board on conclusion of this process.\n \nDuring his five years in the role, Gary has led the restructuring of the Group involving significant portfolio rationalisation and the adoption of a prudent and disciplined approach to capital management. To ensure continuity and momentum, he will continue to lead the strategic review of Tuffnells and is expected to remain as Chairman until a suitable successor is identified and available to take up the position. A formal process to identify his successor will now commence and a further announcement will be made on selection of the successful candidate.\n \nAs also announced in November 2019, Michael Holt, Non-Executive Director of Connect and a former Chief Operating Officer at Fedex Express (Europe) is acting as Executive Chairman of Tuffnells for the period of the strategic review process. Michael is making a valuable contribution to the continued turnaround of Tuffnells, providing relevant and current insight and direction to aid the targeted profit recovery for the business.\n \nAn announcement regarding the progress and outcome of the Tuffnells strategic review will be made in due course, with a further update at the Group's Interim Financial Results to be published on 13 May 2020.\n \nEnquiries:\n \nBuchanan (Financial PR)\nRichard Oldworth / Jamie Hooper\[email protected]\nwww.buchanan.uk.com\n \n \n \nAbout Connect Group\nConnect Group PLC is a UK based specialist distributor and a leading provider of distribution solutions in complex and fragmented markets. The Group's networks are focused on serving high drop density early morning deliverie...