Northgate plc ("Northgate", the "Company" or the "Group"), the leading specialist in light commercial vehicle hire in the UK, Spain and Ireland announces that last night Andrew Page informed the Board that, after over four years with the Company, he will step down from his role as non-executive Chairman and from the Board with immediate effect.
The Company will now commence a search for Andrew's successor and announces that Bill Spencer, currently the Senior Independent Director ("SID") of the Group, will assume the role of interim non-executive Chairman until a successor is found.
Andrew Page joined Northgate's board as a non-executive Director in December 2014 and was appointed as Chairman in September 2015. Andrew has played an instrumental role in strengthening both the Board and the executive management team and in overseeing the implementation of a revitalised strategy, which has put the company on a path to delivering enhanced and sustainable returns for shareholders over the long term.
Bill Spencer commented:
"On behalf of the Board, I would like to express our thanks to Andrew. He has run the Board with immense skill, playing a pivotal role in rebuilding the foundations of Northgate and steering the Company through a period of strategic change. His significant contributions include strengthening the Board, appointing a new executive management team and overseeing the implementation of a revitalised strategy. Throughout Andrew's tenure the Company has benefitted from his wise counsel. The Board remains fully supportive of the executive management team and the strategy in place."
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Notes to Editors
Bill Spencer has a wealth of experience operating at both executive and non-executive levels, having previously served as CFO of Intertek Group, as well as SID and non-executive director at Exova Group and UK Mail Group respectively. Mr. Spencer is currently a non-executive director and audit committee chairman at Ricardo Plc, a UK premium listed global engineering, technical, environmental and strategic consultancy business. Additionally, Mr. Spencer, having joined the Board in June 2016, has an extensive understanding of Northgate's business.
Northgate plc is the leading light commercial hire business in the UK, Spain and Ireland by fleet size and has been operating in the sector since 1981.
Northgate's core business is the hire of light commercial vehicles to businesses on a flexible or minimum-term basis, giving customers the ability to manage their fleet requirements in a way which can adapt best to changing business needs.
Further information regarding Northgate plc can be found on the Company's website: