Euan replaces Stephen Hammett, who has today stepped down from the Board as Non-Executive Director. The Board thanks Steve and wishes him well as he leaves the Company to pursue other interests.
Euan is an international finance executive with over 35 years' experience. Much of his career was spent at the Royal Bank of Scotland Group, until his retirement in 2011, during which time he held numerous roles, chiefly within the Leveraged Finance Division and latterly as Deputy CEO of the Non-Core Division.
In 2013, Euan joined Bank of Cyprus Group as Director in the group's Restructuring and Recoveries Division, a role he held until 2015. He is currently a consultant for Bank of Cyprus and a non-executive director of the UK plc subsidiary.
The Board now comprises:
· Dan Wright, Executive Chairman;
· Gareth Jenkins, Chief Executive Officer;
· Steve Townsley, Chief Financial Officer;
· Joanne Lake, Independent Non-Executive Director; and
· Euan Hamilton, Independent Non-Executive Director.
Dan Wright, Executive Chairman of Accrol, said: “Euan is a finance professional of high standing, with clarity of thought, high standards and independence of mind. He appreciates the rigours of a turnaround situation and the demands of a restructuring from an operational perspective. I am sure the Board and business will benefit from his straight-forward objectivity and unremitting focus.”
“On behalf of the Board, I welcome Euan to the business and look forward to his contribution.”
Senior Management Changes
Accrol also announces that Mark Dewhurst, currently Operations Director of DS Smith Packaging in Northern Europe, has agreed join the Group as Chief Operating Officer from the 1st September 2018.
Mark's career at DS Smith spans nine years, during which he has gained significant experience in transformational change and Operational Excellence and has track record for delivering sustainable performance improvement, through strategic planning, leadership and communication skills.
Mark will take over the role of COO from Don Coates, who joined Accrol in October 2017 to assist in the early stages of the Group's turnaround. Don will leave Accrol to take up a CEO role, following an orderly handover.
Gareth Jenkins, Chief Executive Officer, said: “It is a statement of how much progress we have made that Accrol is able to attract an operational leader of Mark's capability. We look forward to the knowledge and operational experience he will bring to the business, as we continue to progress the turnaround and establish Accrol as the leader in the industry.”
“On behalf of the Board, I would like thank Don for his support over the past nine months and dedication to helping us secure a successful turnaround for the business.”