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Home ยป Major Top Team Reshuffle At Franchise Brands Following Acquisitions

Major Top Team Reshuffle At Franchise Brands Following Acquisitions

Franchise Brands has announced a major shake-up of its top team.

The Macclesfield-headquartered franchise business said it has made the moves following the acquisitions of Filta in March 2022 and Pirtek Europe in April 2023.

The company has now introduced a streamlined plc board with five directors and a separate management board.

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The plc board will comprise two executive directors – executive chairman Stephen Hemsley and CFO Mark Fryer as well as and three non-executive directors Andy Brattesani, Peter Kear and Nigel Wray.

The management board will comprise the divisional managing directors and will report to the plc board. It will be the day to day operational and financial management of the business and the delivery of the group’s strategic plan.

As a result of these changes, executive directors Peter Molloy (managing director, B2B division), Jason Sayers (managing director, Filta International), Tim Harris (managing director, B2C division), Colin Rees (chief information officer) and Julia Choudhury (corporate development director) will step down from the plc board and all join the management board along with the CEO of Pirtek Europe.

Franchise Brands has also confirmed that independent non-executive director David Poutney will also be retiring from the plc board but will not join the management board.

Executive chairman Stephen Hemsley said: “The acquisition of Filta and Pirtek in successive years has allowed us to build a multi-national franchise business of scale which is rich with opportunities for further rapid growth.

“It is therefore appropriate that our corporate governance structure develops in line with the expansion of the group and our ambition for the future.

“I would like to thank all my colleagues who are stepping down from the plc board to the management board for the invaluable contribution they have made since our IPO in 2016, and I look forward to working with them on the management board for many years to come.

“I am also grateful to David Poutney, who is retiring from the business and who has been a source of great advice and wisdom to me for many years.

“Finally, I would like to thank Alex McNutt. I have known Alex since 2018 when we first unsuccessfully bid for Pirtek Europe in a Private Equity auction.

“We subsequently built a good relationship based on a mutual understanding of franchising, and I persuaded him of the value of Franchise Brands as a permanent home for his team and franchisees.

“As a result, he became instrumental in facilitating the exclusive engagement with Pirtek Europe’s private equity owners to complete its acquisition earlier this year.

“Alex’s decision to handover to the strong management team he has built within the business for this next integration phase with Franchise Brands is a testament to his integrity and judgement.

“I would like to thank him both personally and, on behalf of the corporate team and franchisees, for his significant contribution.”

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