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Bunzl announces retirement of Brian May and appointment of Richard Howes as CFO
Bunzl, the specialist international distribution and services group, has announced that after more than 13 years in the role of group finance director and 25 years with Bunzl, Brian May has decided to retire from the company. He will be succeeded by Richard Howes (pictured) who will join the company on 1st September 2019, initially as CFO designate before joining the Board and assuming the role of chief financial officer on 1st January 2020.
To allow for a successful handover, Brian will step down from the Board on 31st December 2019 and leave the group on 28th February 2020.
Richard is currently CFO of Inchcape, the independent global multi-brand automotive distributor and retailer. Prior to joining Inchcape he was CFO of Coats Group, the industrial thread and consumer textiles business. He originally qualified as a Chartered Accountant with Ernst & Young before moving to the investment bank Dresdner Kleinwort Benson where his focus was on mergers and acquisitions in the healthcare and aerospace sectors. During his career, he has also worked for Geest and Bakkavor Group, both international food manufacturers, where he held a number of positions including that of Chief Financial Officer of Bakkavor Group.
"On behalf of the Board I would like to thank Brian for the outstanding contribution he has made to Bunzl's success over many years since he first joined the group in 1993," said Frank van Zanten, chief executive of Bunzl, said:
"His expertise and knowledge of the group have been extremely valuable in helping us to grow and develop into the business that we are today. Brian will leave the company with our very best wishes and our deepest gratitude and thanks for his dedicated service to Bunzl.
"I am delighted that following an extensive search and selection process we have been able to appoint Richard to succeed Brian. Richard has a wealth of experience across a number of sectors, working for multisite businesses with substantial global footprints. He has a strong track record of leading finance functions at a number of international public companies. We are pleased to welcome him to Bunzl."
Brian says he has very much enjoyed being part of this great company: "I will be sorry to leave the group after 25 years. Bunzl is a diversified, balanced and resilient business operating across more than 30 countries and I have no doubt that the company will see continued success in the future."
Richard says he is delighted to be taking on my new role: "Bunzl is a successful and growing company with a well-established and successful business model and a consistent and proven strategy," he notes. "I look forward to joining the Board and the executive management team."
9th May 2019