SIG PLC (LON:SHI) has made the appointment of Steve Francis as its chief executive permanent following his initial selection in February.
The insulation maker, which had previously appointed Francis as CEO for an initial term to December 31, 2020, said it had made the appointment permanent following a chairman-led search process which concluded that he was “the outstanding candidate for the role of CEO”.
READ: SIG scraps dividend and guidance amid coronavirus crisis
Prior to joining SIG, Francis served as chief executive of Patisserie Holdings, the owner of collapsed cake shop chain Patisserie Valerie.
“Steve has demonstrated strong leadership in the most testing circumstances since his original appointment. His ability to navigate the effects of the [coronavirus] environment, at the same time as getting the leadership team focused on the strategic priorities to ensure the future success of SIG, has been exceptional", SIG chairman Andrew Allner said in a statement.
"I am delighted to have been appointed to lead SIG. We are using the current period to develop a revised strategy and organisational model and I look forward to sharing the details of this revised strategy with the announcement of our results for the year ended 31 December 2019", Francis added.
In early deals on Friday, SIG’s shares were 1.2% lower at 20p.