TIDMANG
RNS Number : 4687Z
Angling Direct PLC
16 May 2023
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:
Angling Direct plc via FTI Consulting
Andy Torrance, Chief Executive
Officer
Steven Crowe, Chief Financial Officer
Singer Capital Markets - NOMAD
and Broker +44 (0) 20 7496 3000
Peter Steel (Corporate Finance)
Alex Bond (Corporate Finance)
Tom Salvesen (Corporate Broking)
FTI Consulting - Financial PR +44 (0) 20 3727 1000
Alex Beagley anglingdirect@fticonsulting.com
Sam Macpherson
Alice Newlyn
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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