Directorate Change

ProCook Group plc ("ProCook" or "the Group"), the UK's leading direct-to-consumer specialist kitchenware brand, today provides an update on Board composition and a new long term incentive scheme for the CEO, ahead of the AGM in September.

CFO succession planning

Dan Walden has informed the Board of his intention to step down from his Board position and role as Chief Financial Officer. Dan will remain in his existing role until at least the Summer of 2027, until a suitable replacement is found, and has agreed to remain with the Group for a period thereafter in an advisory capacity.

In over five years as CFO, Dan has been instrumental in first delivering the Group's IPO, and then setting and executing new strategic ambitions, including delivery of the Group's successful store expansion programme. By the time he leaves, he will also have delivered the Group's Supply Chain transformation and Technology change programmes.

At the point he leaves, having provided the Group with firm foundations for future growth, it will be the right time to pass the baton on to a suitable successor to take the business on to its next phase of growth, while allowing him to be closer to home and able to spend more time with his young family.

Senior Independent Non-Executive Director to retire

David Stead, our Senior Independent Non-Executive Director and Audit and Risk Committee Chair, also intends to stand down from the Board once a suitable successor is appointed. Having already retired from his other Plc Board roles and with the Group in a strong position, he has taken the decision that now is a good time to retire from his last remaining role.

David and Dan will each stand for re-election to the Board at the Group's forthcoming AGM and today's announcement allows the Group to initiate a comprehensive search process to appoint strong successors for each role.

Strong leadership in place, with a new long term incentive scheme for the CEO

Since Lee Tappenden joined as CEO in September 2023, which was followed by a number of high-quality senior leadership team appointments, the Group has established a strong leadership team. Following the announcement of Dan's intention to step down as CFO, the Board believes that it is in the best interests of the Company to ensure the retention of Lee as CEO and will be putting forward a new incentive scheme for approval at the AGM in September. In constructing the mechanics of the scheme, the Company has consulted with a number of its largest shareholders who each indicated they are supportive of the proposal.

It is proposed therefore that Lee will receive an additional cash long term incentive, which will be subject to EPS performance criteria and will mature in July 2029. Further details relating to this proposed award will be provided in the Notice of AGM which shall be released in the coming days.

Greg Hodder, Chairman, commented:

"On behalf of the Board I would like to thank David for his excellent contribution which has been greatly appreciated over the last five years, and to wish him well in his upcoming retirement.

"I would like to take this first opportunity to thank Dan for his outstanding service over the last five years, during which he has made a huge contribution to the business over a period of significant change and growth. We are fortunate that we will continue to benefit from his expertise, energy and commitment to driving the business forward over the coming year, allowing us ample time to make a carefully considered appointment of his successor. "

Lee Tappenden, CEO, commented:

"Dan has been a great partner to me and has played a critical role in devising and executing across the Group's strategic priorities. Whilst we will be sad to see him go, it is testament to his commitment to the business that he has allowed ample time for us to appoint a successor and support us thereafter.

"The business is in great shape. We continue to trade in line with our expectations for the full year and to deliver significant strategic progress, including transitioning the operation of our Distribution Centre to DHL, going live with the first phases of our technology change programme, and executing our store expansion and new concept fit out programme. We look forward to updating further on our progress in our FY27 quarter two trading update in mid-October 2026."