Hill & Smith PLC (LON:HILS), the international group creating sustainable infrastructure and safe transport through innovation, today announced that Alan Giddins has formally assumed the role of Executive Chair for an expected period of 12 to 18 months, the role that he has been undertaking since July 2022 on an interim basis while the Group searched for a new Chief Executive Officer. This will provide the Group with continuity and stability, as it executes on its strategy at pace, in a period with significant opportunity.
The Board will consider both internal and external candidates for the role of Chief Executive Officer. Since July 2022, the Board has undertaken an extensive search process that has identified many strong candidates who have been excited by the Group’s prospects. However, the Board was not able to find a candidate that met its criteria at the current time.
Tony Quinlan, Senior Independent Non-Executive Director, will take on the role of Chair of the Nominations Committee from Alan Giddins, who remains on the Committee. Upon recruiting a Chief Executive Officer, Alan will revert to his position of Non-Executive Chair. Alan Giddins’ salary will remain unchanged, and he will not participate in any employee bonus or share incentive schemes.
Tony Quinlan, Hill & Smith Senior Independent Non-Executive Director, said:
“The Board is delighted that Alan has agreed to take the role as Executive Chair for a period of 12 to 18 months, which we unanimously believe is in the best interests of the company to provide continuity and stability. Since Alan’s appointment as interim Executive Chair in July 2022, the Group has delivered record profits through successfully executing on its organic growth strategy, while also making significant progress on portfolio management including a major disposal and a series of high quality acquisitions.
“The Board remains committed to finding a permanent Chief Executive Officer and will restart a process in due course to assess both internal and external candidates”.
