St. Modwen Properties PLC, the regeneration-based property company, is today pleased to announce the appointment of Tim Haywood as Finance Director, with effect from 14 April 2003. The appointment is in line with the Board succession plans outlined in St. Modwen’s announcement dated 17 October 2002, in which the Company indicated its intention to seek a new Finance Director as the first step towards fulfilling those plans.
Mr Haywood (39) is currently Chief Financial Officer of Hagemeyer UK Limited, an £850m turnover group of distribution businesses including Newey & Eyre and WF Electrical. Hagemeyer UK, which he joined in 1998, is the largest subsidiary of the Dutch quoted professional products & services group, Hagemeyer N.V.
Between 1991-1998, Mr Haywood held a number of senior financial positions, at several large subsidiaries of Williams Holdings Plc, including European Finance Director of the Swish Group, which he joined following his participation in the MBO of Newmond plc from Williams.
Mr Haywood qualified as a Chartered Accountant with Arthur Andersen & Co and spent six years in their Audit & Business Advisory Division in Birmingham. He graduated from Oxford University and is married with two children.
There are no matters to be disclosed pursuant to Paragraph 16.4 of the Listing Rules of the UK Listing Authority.
Commenting on the appointment, Anthony Glossop, Deputy Chairman and Chief Executive of St. Modwen Properties PLC said:
“We are delighted that Tim Haywood is joining us as Finance Director. His background offers us his strong understanding of the distribution sector and manufacturing industry, as well as broad-based expertise in business systems, as well as property related finance and acquisition transactions.
“This appointment is the first step in fulfilling our Board succession plans and will enable us to move forward with the next stage as appropriate.”