CFO Appointment and Board Succession Update
16 May 2023
Angling Direct plc
("Angling Direct", the "Company" or the "Group")
CFO Appointment and Board Succession Update
Angling Direct plc (AIM: ANG), the leading omni-channel specialist fishing tackle and equipment retailer, is pleased to announce the appointment of Sam Copeman as Group Chief Financial Officer ("CFO"). Sam will join Angling Direct on 5 June 2023 and will join the Board on conclusion of the Company's Annual General Meeting on 22 June 2023. Simultaneously, Angling Direct's Board Succession Plan will be enacted, encompassing the following changes:
· Andy Torrance will step down from his role as Chief Executive Officer ("CEO") and move to Non-executive Chairman;
· Steve Crowe, Angling Direct's current CFO, will replace Andy and be appointed CEO; and
· Martyn Page, will step down from his role as Non-executive Chairman and will remain on the Board as a Non-executive Director.
Sam is an experienced CFO and most recently led the trade sale of Esportif, the global sports consultancy with a presence in the UK, France, South Africa, Japan, Australia and New Zealand, to Wasserman, the global sports, music, and entertainment agency. Prior to this, Sam held senior finance roles across a variety of industries within private equity and privately owned businesses and has a track record of creating shareholder value through the development and execution of ambitious strategic plans, delivering growth and leading successful shareholder exits.
Andy Torrance, CEO of Angling Direct commented:
"It's exciting to announce the appointment of Sam to the role of CFO as we execute on the Board Succession Plan we outlined earlier this year. I believe that Steve and Sam are the right team to lead Angling Direct on its growth journey and I look forward to working with in my new Chair role."
Steve Crowe, CEO designate of Angling Direct commented:
"I am pleased that Sam is joining Angling Direct to take over from me as CFO as I make the transition to CEO. I am confident that having met a number of high profile candidates, Sam is the right person for the job and that his experience across a variety of senior finance roles will be complementary as we work together with Andy and the Board to deliver the next phase of growth."
Sam Copeman, incoming CFO said:
"I am thrilled to be joining Angling Direct at this exciting time in the Company's growth journey. I look forward to working with Steve and Andy to deliver on the Group's strategic objectives both in the UK and Europe."
Information regarding the appointment of Sam Copeman as required under Rule 17 and Schedule 2(g) of the AIM Rules for Companies will be announced at the time that Sam joins the Board of the Company on 22 June 2023.
For further information please contact:
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About Angling Direct
Angling Direct is the leading omni-channel specialist fishing tackle retailer in the UK. The Company sells fishing tackle products and related equipment through its network of retail stores, located strategically throughout the UK as well as through its leading digital platform (www.anglingdirect.co.uk .de, .fr, .nl and .eu) and other third-party websites.
Angling Direct is committed to supporting its active customer base and widening access to the angling community through its passionate colleagues, store-based qualified coaches, social media reach and ADTV YouTube channel. The Company currently sells over 28,000 fishing tackle products, including capital items, consumables, luggage and clothing. Angling Direct also owns and sells fishing tackle products under its own brand 'Advanta', which was formally launched in March 2016.
From 1986 to 2002, the Company's founders acquired interests in a number of small independent fishing tackle shops in Norfolk and, in 2002, they acquired a significant premise in Norwich, which was branded Angling Direct. Since 2002, the Company has continued to acquire or open new stores, taking the total number up to 46 retail stores. In 2015, the Company opened a 2,800 sq. metres central distribution centre in Rackheath, Norfolk, where the Company's head office is also located. In January 2022 Angling Direct acquired an additional 3,900 sq. metres distribution centre in Venlo, Netherlands to service its established, and rapidly growing, presence in Europe with native language websites set up in key regions to address demand.
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