6 December 2023
Marshalls plc
(‘Marshalls’, the ‘Company’ or the ‘Group’)
CEO Succession
Marshalls plc, a leading manufacturer of products for the built environment, today announces the appointment of Matthew (Matt) Pullen as Chief Executive Officer Designate, who in due course will succeed Martyn Coffey as Chief Executive Officer. Matt will join the Board as a Director, with effect from 8 January 2024 and will take over as CEO from 1 March 2024. Martyn will step down from the Board on 29 February 2024, but will remain available as an adviser to support Matt’s induction and transition during 2024.
Matt is an experienced leader with a strong background in the sector, most recently as Chief Operating Officer of Genuit Group plc.
Commenting on the changes, Vanda Murray OBE, Chair, said “Under Martyn’s outstanding leadership, Marshalls has been transformed into a diversified building products manufacturer, with leading positions in its key markets, whilst retaining its culture and core values. During Martyn’s tenure, Marshalls has grown organically and through acquisitions, achieving its key strategic ambitions, and the Group is well positioned for when markets recover. Martyn will leave behind a significant legacy and we would like to thank him for his leadership over the last 10 years. Following a rigorous process to identify a successor, supported by an executive search firm, I’m delighted to welcome Matt to Marshalls and look forward to working with him.”
Martyn Coffey said, “Leading Marshalls for 10 years has been the greatest privilege and pleasure of my professional life. To have grown the Company with its amazing people to the position it is in today, has been an exciting and rewarding adventure. I am proud of the role that my exceptional team has played in contributing to the UK construction sector and I know that Matt inherits a strong team and a business that is ready to resume growth when markets improve.”
Matt Pullen, CEO Designate commented: “Marshalls is a business with a great heritage, strong reputation and a market leadership position in the sector. I feel privileged to have the opportunity to build on that heritage and on Martyn’s significant achievements. I am excited to start working with my new colleagues to help us achieve the Company’s refreshed strategy and to engage with all our key stakeholders to ensure that we drive the business to new heights and generate sustainable value for all.”
Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014), as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018) (“MAR”) prior to its release as part of this announcement and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.
Enquiries:
| Vanda Murray OBE | Chair | Marshalls plc | +44 (0)1422 314777 |
| Tim Rowntree | MHP | +44 (0)78 34 623 818 | |
| Charlie Barker |