Suspension of CEO & Changes in Leadership
Alumasc Group PLC has suspended its CEO, Pamela Bingham, pending an investigation into her professional conduct, with Non-Executive Chair Vijay Thakrar temporarily assuming Executive Chair responsibilities. The company stated that its management teams, including the CFO with approximately thirty-five years of combined tenure, will ensure business continuity. Despite a challenging market, Alumasc reported a resilient performance and a significantly expanded order book entering the new financial year.
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Alumasc (ALU.L), the premium sustainable building products, systems and solutions Group announces that CEO, Pamela Bingham, has been suspended by the Board pending an investigation into matters relating to her professional conduct. The Company is undertaking a full investigation, supported by its professional advisors.
Whilst this process is ongoing, Vijay Thakrar, Non-Executive Chair, will assume the role and responsibilities of Executive Chair temporarily. Vijay will be supported by Alumasc's well-established management teams, including the Group's Divisional Managing Directors and the CFO, who have approximately thirty-five years' combined tenure at Alumasc, to provide business leadership and continuity.
As set out in the trading update provided this morning, the Group continues to deliver a very resilient performance amidst a challenging market backdrop, and enters the new financial year with a significantly expanded order book. The Company will make further updates to shareholders in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.