Volution Group plc Volution Group CFO to retire in 2019 (5686N)

TIDMFAN

RNS Number : 5686N

Volution Group plc

21 January 2019

21 January 2019

Volution Group plc

Volution Group plc Chief Financial Officer to retire in 2019

Volution Group plc (the "Company", the "Group" or "Volution", LSE: FAN) a leading supplier of ventilation products to the residential and commercial construction markets, announces that Ian Dew, Chief Financial Officer ("CFO") will retire from Volution and his position as CFO, during 2019. As a result, the Board has commenced a search process for his successor.

Ian will continue in his role as CFO until a successor has been appointed, and for a transitional period thereafter. As part of our overall succession planning, we will be working with Russell Reynolds Associates, who will assist us with the search process.

Ian joined Volution in 2012 and was appointed as CFO in January 2014. Ian played an integral role in Volution's successful listing on the London Stock Exchange and since then has played a key role in the completion of all acquisitions.

Ian will continue to oversee the finance function until a permanent successor is appointed and an update will be provided in due course.

Ronnie George, Chief Executive said:

"Ian has played a pivotal role in building Volution into the more geographically distributed and successful business it is today and, on behalf of the Board and colleagues, I would like to thank him for his invaluable contribution to the growth of the business. We are also pleased that Ian will continue in the role of CFO whilst we find and appoint his successor."

Ian Dew said:

"Since I joined Volution in 2012, the Group has grown significantly, especially in international markets with the Group now operating not just in the United Kingdom but across Central Europe, the Nordics and Australasia. It has been a privilege to act as CFO of Volution over the past five years through both private equity ownership and listed company status. I believe that the Group has many opportunities, and an exciting future, ahead of it and I remain fully committed over the coming months to ensuring the continued success of the business whilst my successor is sought."

The financial arrangements regarding Ian Dew, which will adhere to the rules of all relevant incentive schemes and the Remuneration Policy, will be reported in due course.

- ends -

For further information:

 
 Enquiries: 
 Volution Group plc 
 Ronnie George, Chief Executive 
  Officer                            [phone] 
 Ian Dew, Chief Financial Officer    [phone] 
 
                                     [phone] 
 Tulchan Communications               4200 
 James Macey White 
 David Ison 
 

Legal Entity Identifier: 213800EPT84EQCDHO768.

Note to Editors:

Volution Group plc (LSE: FAN) is a leading supplier of ventilation products to the residential and commercial construction markets in the UK, the Nordics, Central Europe and Australasia.

The Volution Group operates through two divisions: the Ventilation Group and the OEM (Torin-Sifan) division. The Ventilation Group comprises 15 key brands - Vent-Axia, Manrose, Diffusion, National Ventilation, Airtech, Breathing Buildings, Fresh, PAX, VoltAir, Welair, Kair, Air Connection, inVENTer, Ventilair and Simx, focused primarily on the UK, the Nordic, Central European and Australasian ventilation markets. The Ventilation Group principally supplies ventilation products for residential and commercial ventilation applications. The OEM (Torin-Sifan) division supplies motors, fans and blowers to OEMs of heating and ventilation products for both residential and commercial construction applications in Europe.

For more information, please go to: www.volutiongroupplc.com

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January 21, 2019 02:00 ET (07:00 GMT)