Eco Animal Health Group PLC Board Changes (3680G)
July 26 2021 - 2:00AM
UK Regulatory
TIDMEAH
RNS Number : 3680G
Eco Animal Health Group PLC
26 July 2021
ECO Animal Health Group plc
("ECO" or "the Group")
(AIM: EAH)
Board Changes
CEO to retire in FY 2022-23
Marc Loomes, who joined ECO Animal Health Group plc in 2004,
became Managing Director in 2005 and CEO in 2010, has informed the
Board that he plans to retire on 31 December 2022. During his
tenure, the Company has grown sales revenues over sevenfold from
GBP14m to over GBP100m.
The Board has therefore commenced a formal process with a
leading executive search consultancy to identify and appoint a
successor to take over from Marc during the 2022-23 financial
year.
Marc Loomes, CEO said:
"ECO has grown rapidly and undergone many changes particularly
over the past five years. We are enjoying strong trading and have
established a solid platform for the next stage of ECO's future
growth with our vaccine development portfolio. I have thoroughly
enjoyed my time at ECO and I am proud of what we have achieved. I
believe that these timescales reflect the right time to hand over
to a new CEO who will be most ably supported by a strong
operational executive leadership team."
Andy Jones, Chairman of ECO Animal Health, commented :
"We have begun our search for Marc's successor and are confident
of a smooth transition as Marc has agreed to stay with us during
the 2022-23 year, until a successor is in place and a full and
successful handover has been completed. We are hugely grateful to
Marc for his significant contribution and strong leadership he has
provided over the last 17 years, and his total commitment to ensure
a smooth succession process."
The information contained within this announcement is deemed by
the Group to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014 ("MAR") as it forms part
of United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018. Upon the publication of this announcement
via a Regulatory Information Service ("RIS"), this inside
information is now considered to be in the public domain.
Contacts:
ECO Animal Health Group plc
Andy Jones (Chairman)
Marc Loomes (CEO) 020 8447 8899
IFC Advisory
Graham Herring
Zach Cohen 020 3934 6630
Singer Capital Markets (Nominated Adviser
& Joint Broker)
Mark Taylor
Peter Steel
Iqra Amin 020 7496 3000
Peel Hunt LLP (Joint Broker)
James Steel
Dr Christopher Golden 020 7418 8900
About ECO Animal Health
ECO Animal Health Group plc ("ECO" or "the "GROUP") researches,
develops and commercialises products for livestock. Our business
strategy is to generate shareholder value by achieving the maximum
sales potential from the existing product portfolio whilst
investing in Research and Development ("R&D") for new products,
particularly vaccines, and seeking to in-license new products.
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END
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