Appointment of Chief Financial Officer

RNS Number : 4246Q

Marlowe PLC

26 February 2021

 

26 February 2021

Marlowe plc

Appointment of Chief Financial Officer

Marlowe plc ("Marlowe" or the "Group"), the UK leader in business-critical services and software which assure safety and regulatory compliance, announces that Adam Councell will be appointed as Chief Financial Officer ("CFO") of the Group to succeed Mark Adams, who has indicated his intention to retire. Following an orderly handover, Mark is expected to retire shortly after Adam's appointment to the Board, which is intended to occur during the second half of the Group's FY22 financial year.

Adam is currently CFO of Fuller, Smith & Turner plc, the pub and hotels business. From 2012 until 2019 he was CFO of Restore plc, where he played a leading role in the development of the group into a leading office services provider. Prior to Restore, Adam spent nine years at Rentokil Initial plc.

A further announcement, in connection with Adam Councell's intended appointment to the Board, will be made in due course.

Alex Dacre, Chief Executive, said:

"I'm delighted to welcome Adam to Marlowe. Adam has a highly successful and relevant CFO track record and brings considerable experience in B2B services and acquisition-led growth strategies. Having worked closely with Adam at Restore, I'm confident that he will add considerable value to the Group as we deliver on our next phase of growth in line with our targets of achieving £500m revenue and £100m EBITDA over the next three years."

"I'd like to thank Mark for his considerable contribution during four highly successful years at Marlowe. I look forward to working closely with him over the coming months as we continue to implement our growth strategy."

Kevin Quinn, Chairman, said:

" On behalf of the Board I'd like to thank Mark for his excellent service. He has supported the Group in delivering significant earnings growth and in executing a series of transformative acquisitions . We wish him well in his retirement."

"Adam will be an excellent addition to our leadership team and brings a wealth of sector experience from which the Group will benefit."

For further information:

Marlowe plc	www.marloweplc.com
Alex Dacre, Chief Executive	Tel: [phone]
Mark Adams, Group Finance Director	[e-mail]
Cenkos Securities plc (Nominated Adviser and Joint Broker)
Nicholas Wells	Tel: [phone]
Ben Jeynes
Berenberg (Joint Broker)	Tel: [phone]
Mark Whitmore Ben Wright
Yudith Karunaratna
FTI Consulting
Nick Hasell
Alex Le May	Tel: [phone]

About Marlowe plc

Marlowe is a UK leader in business-critical services and software which assure safety and regulatory compliance. The company was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated safety and compliance services. It is focused on health & safety, compliance software, employment law & HR compliance, fire safety, security, water treatment & air hygiene and occupational health services - all of which are vital to the wellbeing of its customers operations and are invariably governed by regulation. Marlowe currently provides services to over 20% of Britain's commercial premises and is increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated compliance and safety services. Our customers can be found in most office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include thousands of SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

 

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