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McBride Appoints API Executive Chris Smith As CFO
[July 15, 2014]

McBride Appoints API Executive Chris Smith As CFO

(dpa-AFX International Compact Via Acquire Media NewsEdge) LONDON (dpa-AFX) - McBride Plc. (MCB.L), Europe's leading provider of Private Label Household and Personal Care products, said that it has appointed Chris Smith as its Chief Finance Officer. Chris will be joining the Board in due course, at a date to be confirmed.

The company noted that Richard Armitage, the current Chief Finance Officer will leave the Company on 31st July, 2014, and David Main, Director of Finance, will act as Interim Chief Finance Officer until Chris Smith joins McBride.

Chris joins from API Group plc where he is currently the Group Finance Director. Before joining API he served with Scapa plc as Finance and IT Director, Europe and Asia. Before that he held a number of international financial roles with Courtaulds after qualifying with Coopers & Lybrand.

In a separate press release, API Group plc.(API.L) said that Chris Smith has notified the Board of his intention to resign from his position as Group Finance Director to take up a similar role with another listed company.

Chris has been with API since 2008 and made a significant contribution to the turnaround of the Group and its restoration to financial health. He will continue to fulfill all his existing responsibilities prior to departure at the end of the calendar year and a process is being commenced immediately to recruit a successor.

In addition, API Group said that the Board's expectations for the current financial year remain consistent with what was indicated when full year results were announced on June 4th 2014.

At the Annual General Meeting today, Richard Wright, Chairman of API Group, will say the board continues to expect progression in results compared to last financial year.

Laminates and Foils Europe are trading well and Holographics is on track to at least hold the breakeven performance established in the final quarter of last year. Foils Americas has continued to experience reduced demand from the metallic pigment sector, exacerbated by destocking of the supply chain. Volumes are expected to start to recover in the second half and action has already been taken to re-align operating costs.

Copyright RTT News/dpa-AFX

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