Appointment of CFO and NED Change

Press release date: 25th October 2023


Nichols plc, the diversified soft drinks group, announces the following changes to its Board.

Appointment of CFO

The Group is pleased to announce that Richard Newman will join the Board as a Director with effect from 29 January 2024 before becoming Chief Financial Officer (CFO) and Company Secretary in March 2024 following the publication of the Group’s Preliminary Results for the year to 31 December 2023. David Taylor, who is currently acting as Interim CFO and Company Secretary, will step down from the Board at the same time in March following a smooth transition of responsibilities.

Richard brings extensive and relevant UK public company financial experience having held a number of senior plc roles and most recently, between 2021 and 2023, as CFO at AIM-listed Accrol Group Holdings Plc.

Richard joined Cadbury plc in 1996 progressing to Finance and IT Director for Ireland and then Group Financial Controller. After 15 years with Cadbury, he took a new role as Divisional Finance Director at National Express Group plc before joining DS Smith plc in 2015 as UK Finance Director for Packaging. Richard is a member of the Institute of Chartered Accountants in England and Wales, having qualified with PwC in 1993.

Non-Executive Director Change

After 18 successful years with Nichols, both in executive positions and as a Non-Executive Director, James Nichols has decided that he wishes to pursue a fresh challenge and will leave the Board and the business with effect from 24 October 2023.

It is expected that a new representative of the Nichols family will be appointed as a Non-Executive Director in due course, pursuant to the terms of the Relationship Agreement between Nichols plc and the Nichols family which entitles the family to two Non-Executive Board positions (assuming an aggregate of interest by the Nichols family of equal to or greater than 30 per cent of the issued ordinary share capital of the Company).