New CEO For Norcros

Norcros plc, a market leading supplier of high quality and innovative bathroom and kitchen products, announces that after 30 years with the Company, Nick Kelsall, Chief Executive Officer, has notified the Board of his intention to retire. Nick will step down as CEO and from the Board with effect from 31 March 2023.  Following a rigorous recruitment process, Thomas Willcocks, who is currently the Group's UK Business Director, will succeed Nick as CEO.

Nick was appointed CEO in April 2011 and over the last 12 years has transformed the Group through the successful execution of a focussed growth strategy into a highly profitable and resilient market-leading business with strong brands. The Group has delivered an enviable track record of sustained domestic and international growth during Nick's leadership, through his strategic vision and business acumen. Nick previously served as the Group's Chief Financial Officer from October 1996, having joined Norcros in 1993. To ensure a smooth and effective handover, Nick will remain an employee for a period of twelve months from today.

Thomas Willcocks will assume the role of Chief Executive Officer effective 1 April 2023, until then he will be CEO Designate. Since August 2021, Thomas has been a member of the Executive Team at Norcros as Business Director UK with operational responsibility for the Group's UK business segment. Prior to his move to the UK, Thomas was, from 2009, Managing Director of Norcros South Africa where he led the transformation and profitable growth of the South African business.

Commenting on these changes, David McKeith, Acting Board Chair, said:

"Nick has devoted the majority of his career to Norcros and has converted it into the resilient, profitable and market leading business it is today.   I know that all Norcros shareholders, directors and staff will join me in thanking him profusely for everything he has done for the Group. We all wish him well for the future." 

"Thomas has been a key executive, in South Africa and now in the UK, throughout my time on the Norcros board. I am delighted to see his appointment to CEO from 1 April 2023. The Board has every confidence that he will build on Norcros's strong position and continue our growth trajectory."

Nick Kelsall commented: "It has been both a privilege and an honour to lead the Norcros business which has been a huge part of my life. Norcros has been transformed and is unrecognisable from the business that I joined 30 years ago. The business is in great shape with huge opportunities, and I am immensely grateful for the support of the very talented colleagues that I have worked with right across our business globally. I wish them every success for the future. I know they will continue to offer Thomas their full support and I am confident that the business will continue to prosper in the years ahead."           

The Company will release its next trading update on 13 April 2023 post its year end on 31 March 2023.

Source : Norcros

Image : Triton / Norcros

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