Sprue (AIM: SPRP), one of Europe's leading developers and suppliers of home safety products, is pleased to announce the appointment of Mike Stilwell as Group Finance Director with effect from 3 December 2018, having served 6 months' notice at his current employer. In the meantime, the Company's finance function will be run by Zoe Fox, Finance Director of Sprue Safety Products Limited, the Company's principal subsidiary, a role which Zoe has held at the Company since 2010.
Mike is currently the finance director of Synectics plc, which he joined in 2012 as group financial controller before being appointed as finance director in October 2015. Previously, Mike held finance roles with the Saint-Gobain Group, Coventry Building Society and Caparo Group. Mike qualified as a chartered accountant with KPMG in 2001.
Neil Smith, Group Chief Executive of Sprue, commented: “We are delighted to have recruited Mike and look forward to him joining us and his contribution to the Group.”
Board update
Graham Whitworth, the Company's Executive Chairman, has indicated his intention to step down from his role as Executive Chairman once a replacement non-executive Chairman has been appointed. As a result, the Board has created a Nominations Committee, comprising the non-executive Directors of the Company, to commence the search for, and appoint, a new non-executive Chairman. Following the appointment of the new Chairman, the intention is that Graham Whitworth will remain as a non-executive Director of the Company. A further announcement will be made in due course.
Graham Whitworth, Executive Chairman of the Company, commented: “It's been a privilege to have served as Chairman of the Company since 2001, during which period the Company has grown substantially and undergone significant changes to become a market leader in its field. I feel that it is appropriate for the Company to enter the next phase of its development with a new Chairman in place. I am keen to remain involved in the business and stay on the Board as a non-executive director.”