9 February, 2018
New Executive Chairman at Accrol
A new executive chairman has been drafted in at Blackburn-headquartered toilet roll maker Accrol.
The AIM-listed company has revealed that Dan Wright is switching from independent non-executive director to executive chairman with immediate effect. He replaces Peter Cheung who stepped down from the board as executive chairman on 3 February 2018 and has left the company to focus on other roles.
In addition, Martin Leitch, who joined the operational board on 20 November 2017, has been appointed to the board as interim chief financial officer (CFO) with immediate effect.
Leitch is an international finance executive with almost 40 years’ experience in both publicly quoted and private equity-owned groups. He is a chartered accountant and has over the last five years provided finance, strategy, corporate finance and other services to a number of international businesses, including Volac International and Constantia Flexibles.
Prior to this period, he was chief financial officer at Innovia Films, Quest International and Antalis Group.
Leitch began his corporate career at Pepsi-Cola International in 1993, having worked for Price Waterhouse in both the UK and US between 1979 and 1993. He is currently a non-executive director of Millennium & Copthorne Hotels.
Accrol is currently in the process of searching for a permanent CFO.
Wright said: “I am delighted to return to a leadership role on the Accrol board. I remain convinced of the strong market fundamentals that underpin Accrol’s leading position in the discount sector and I look forward with confidence to helping address the people, process and cost pressures that have held the business back since IPO [initial public offering].”
Gareth Jenkins, chief executive of Accrol, added: “I am delighted that Dan has agreed to head the board of Accrol. He is an experienced operator with considerable knowledge of the business and a strong understanding of the mechanics of the industry.
“I, personally, look forward to working with him, as we pursue a successful turnaround of this business. On behalf of everyone at Accrol, I welcome him to the role of chairman.
“We also welcome Martin, who joins the Accrol board following a highly impressive period as part of the senior management team. Martin brings considerable financial skills and turnaround experience to the board and I have no doubt that he will make a valuable contribution.”
Accrol floated on AIM in June 2016.