Directorate Change

RNS Number : 1967C

IG Design Group PLC

21 February 2022

 

21 February 2022

IG Design Group  plc

("Design Group", the "Company" or the "Group")

Directorate Change

IG Design Group plc today announces that after 17 years with the Group, and 14 years as Group CEO, Paul Fineman will, for personal reasons, be stepping down as Group Chief Executive Officer as of 1 March 2022. A search is commencing for a successor.

Executive Board Director Lance Burn who has been with the Group for over 10 years will take on the role of interim Group Chief Operating Officer, leading the business on a day-to-day basis. This follows his previous role as CEO of the Group's International Division. Stewart Gilliland, Non-Executive Chairman will also be taking a more active role with the support of the wider team.

The Board is at the final stages of the appointment of the Group's new CFO and has agreed that Giles Willits will remain with the Group until June 2022.

The Group's trading in January was in line with the Company's latest forecasts, with the business continuing to successfully build its orderbook for the new financial year. In the USA, Lance in his role as interim Group COO is now leading the review of the Design Group Americas business, following the exit of Gideon Schlessinger, DGA Chief Executive Officer. 

Stewart Gilliland, Non-Executive Chairman, commented:

" There is no doubt that Paul's contribution to the Group has been significant; diversifying the business and strengthening our omni-channel customer relationships. Paul led the transformation from International Greetings to the global, diversified business that Design Group is today, with revenues now approaching $1bn.

We would like to thank Paul whole-heartedly for his committed service across many years and we wish him well for the future."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information, please contact:

IG Design Group plc	Via Alma PR
Stewart Gilliland, Non-Executive Chairman
Giles Willits, Chief Financial Officer
Canaccord Genuity Limited (Nominated Adviser and Broker)	Tel: [phone]
Bobbie Hilliam, NOMAD Alex Aylen, Sales
Alma PR	Tel: [phone]
Rebecca Sanders-Hewett Susie Hudson Sam Modlin

About IG Design Group plc

IG Design Group plc, the largest consumer gift packaging business in the world, is a designer, innovator and manufacturer of products that help people celebrate life's special occasions. Design Group works with more than 11,000 customers in over 80 countries throughout the UK, Europe, Australia and the USA.

Its products are found in over 210,000 retail outlets, including several of the world's biggest retailers, for example Walmart, Target, Amazon, Costco, Lidl and Aldi. Its brand, Tom Smith, also holds the Royal Warrant for the supply of Christmas crackers and Christmas wrapping paper to the Royal family. Design Group is a diverse business operating across multiple regions, categories, seasons and brands.

Its five major product categories are: Celebrations, Gifting, Craft & creative play, Stationery and 'Not-for-resale' consumables. It offers customers a full end-to-end service from design through to distribution, offering both branded and bespoke products from the value-focused through to the higher-margin ends of the market.

The Company was admitted to the Alternative Investment Market of the London Stock Exchange in 1995 under the name 'International Greetings plc' and rebranded to IG Design Group plc in 2016. For further information please visit www.thedesigngroup.com.

 

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