SIG make Steve Francis permanent chief executive

SIG plc has confirmed the appointment of Steve Francis as permanent chief executive. This search process, led by the Chairman, assessed both external and internal candidates and concluded that Mr Francis was the outstanding candidate for the role.

On 25 February Meanie Oldersma resigned as the SIG chief executive with immediate effect. Francis, a turn around specialist, was then appointed as chief executive on an initial contract until 31 December 2020. 

Andrew Allner, Chairman, said:“The Board is pleased to announce that Steve Francis has been appointed permanent chief executive. Steve has demonstrated strong leadership in the most testing circumstances since his original appointment. His ability to navigate the effects of the COVID-19 environment, at the same time as getting the leadership team focused on the strategic priorities to ensure the future success of SIG, has been exceptional.”

Mr Francis commented: “I am delighted to have been appointed to lead SIG.  We are using the current period to develop a revised strategy and organisational model and I look forward to sharing the details of this revised strategy with the announcement of our results for the year ended 31 December 2019.”

In recognition of the current crisis, and as already announced, Steve has taken a voluntary reduction in his £540,000 salary of 50%. This reduction will continue until the Company resumes normal operations.

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