Board Changes

RNS Number : 1395I

Unbound Group PLC

01 December 2022

 

1 December 2022

Unbound Group plc

("Unbound Group" or the "Company")

Board Changes

Unbound Group plc announces the appointment of Alastair Miller to the Company's board as an Independent Non-Executive Director with immediate effect.

Alastair Miller brings significant experience of retail businesses and an excellent understanding of the dynamics of e-commerce and AIM-listed businesses. He is currently a Non-Executive Director and Chairman of the Audit Committee at Superdry PLC. Alastair was Chief Financial Officer at New Look from 2000 until 2014, which he joined from RAC Ltd where he was Group Finance Director. Alastair is also currently a Non-Executive Director of NewRiver REIT plc.

Alastair Miller will be appointed Chair of the Company's Audit and Risk Committee and become a member of the Remuneration Committee and the Nominations Committee, with effect from 31 December 2022.

Following Gavin Manson's transition to an executive role as Chief Financial Officer, as announced on 6 September 2022, the number of Independent Non-Executive Directors will reduce from three to two with effect from 31 December 2022. As such, current Independent Non-Executive Directors, Paul Goodson and Suki Thompson, will be stepping down from the Board on 31 December 2022.

The Board believes these changes reflect a more appropriate balance in light of the future needs of the business.

Neil Johnson, Chair of the Board, commented:

"I am delighted to welcome Alastair Miller to the Board. His recent and relevant expertise and proven abilities will further strengthen governance and will add significant strategic value to the Board and the Group. I should also like particularly to thank Paul Goodson and Suki Thompson who will be leaving the Board at the end of December. Paul has made a major contribution to the Board's effectiveness over the past 6 years both at Electra Private Equity Plc and at Unbound Group. More recently, Suki has been a visionary support as the Unbound Group business model was created. We wish them all best wishes in the future.

The Board restructure and streamlining forms part of our wider focus on costs across the business."

Board composition - summary:

Following the above changes and with effect from 31 December 2022, the members of the board will comprise:

· Neil Johnson, Chair

· Ian Watson, Chief Executive Officer

· Gavin Manson, Chief Financial Officer

· Alastair Miller, Independent Non-Executive Director

· Baroness Kate Rock, Independent Non-Executive Director

Also with effect from 31 December 2022, members of the Board committees will be as follows:

· Audit and Risk Committee: Alastair Miller as Chair and Baroness Kate Rock as the other member;

· Remuneration Committee: Baroness Kate Rock as Chair and Alastair Miller as the other member; and

· Nominations Committee: Neil Johnson as Chair and Baroness Kate Rock and Alastair Miller as the other members.

ENDS

Enquiries

Unbound Group plc

Ian Watson

020 3874 8300

Singer Capital Markets

Peter Steel / Tom Salvesen / Alaina Wong / Kailey Aliyar

020 7496 3000

Vico Partners

Sofia Newitt

[e-mail]

020 3957 5045

Appendix: disclosures required pursuant to AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies

Alastair Miller (aged 64) is currently, or has during the past five years been, a director of the following companies:

Current directorships or partnerships	Previous directorships or partnerships
· Lilliput Health Limited · NewRiver REIT Plc · Superdry Plc · Total Therapy Bournemouth Ltd · Total Therapy Poole Ltd · Total Therapy Ringwood Ltd · Westview Capital Limited	N/A

As of the date of this announcement, Alastair Miller holds no ordinary shares in the capital of the Company.

Save as set out in this announcement, there are no further details to be disclosed in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.

 Notes to Editors

Unbound Group plc

Unbound Group plc is the parent company for a group selling a range of brands focused on the 55+ demographic. Unbound Group will build on the solid foundation of Hotter Shoes, its current main business, to grow value through its curated, multi-brand retail platform supporting the active lifestyles of the 55+ demographic with a range of products and services. Unbound Group's platform is powered by Mirakl's leading marketplace technology to enable the Group to partner seamlessly with selected third-party brands, on a drop ship model while negating the need to invest in working capital. Unbound Group's expanded offering beyond footwear will feature a broad range of active lifestyle products and services, with third-party complementary brands featuring alongside new Unbound Group brands, as well as Hotter.

Hotter Shoes

Hotter Shoes, an Unbound Group plc company, is one of the UK's leading specialist footwear brands, selling over 1.4 million pairs of shoes per year. Hotter's footwear has an uncompromising focus on 'customised comfort' and perfect fit through the use of its differentiating technology, including its e-commerce platform, 3D foot scanner and augmented reality app which enables the consumer to try products virtually from home. Hotter has been transformed from a retail to a digitally led, omni-channel business over the past 3 years, selling its footwear to over 4 million customers via online, its direct mail order channel and its targeted 17 Technology Centres and 8 garden centre concessions in the UK. Over 75% of sales are direct to consumer through digital channels. With its clearly defined, large and growing target demographic, Hotter now reaches 29% of the female population in the UK over the age of 55. Digital partnerships have recently been established with several online retailers including Next, John Lewis, The Very Group and M&S.

 

END

 

 

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