Chair succession announced at Ultimate Products

Date published: 28 April 2024

The Board of Oldham-headquartered Ultimate Products, the owner of a number of leading homeware brands including Salter and Beldray, has been notified by James (“Jim”) McCarthy of his intention to step down as Non-Executive Chair on July 31 this year.

The Board has since confirmed that Christine Adshead, who has been an Independent Non-Executive Director of Ultimate Products since September 2020, will replace Jim as Non-Executive Chair on that date.

Jim was appointed Chair of Ultimate Products in 2017 prior to the Group’s IPO and has played an instrumental role in successfully steering the business through its first seven years as a listed company.

The Group has benefitted enormously from Jim’s vast experience in the fast-moving retail industry, given his previous positions as CEO of Poundland Group plc, Managing Director of Sainsbury’s Convenience, and other senior roles in the sector.

Christine is a former Partner at PwC, where she spent nearly 20 years providing transaction advisory services across a range of corporate activities and a variety of sectors, including retail and consumer goods.

She was PwC’s London region private equity leader, as well as being a national leader for mid-tier private equity.

Christine was also an elected member of the PwC Supervisory Board, the governance body for PwC in the UK, which represents the interests of over 900 Partners and is responsible for providing constructive challenge to PwC’s UK Executive Board.

Christine is a Non-Executive Director and Board Member of Hill Dickinson LLP, an international commercial law firm headquartered in Liverpool.

Mr McCarthy said: “It has been a privilege to be Ultimate Products’ Chair over the last seven years, and I have thoroughly enjoyed playing a part in the ongoing success of this superb business.

"Having worked with Christine for over three years now, I know that she will make an excellent Chair of Ultimate Products given her understanding of and support for the Group’s culture, strategy and people.

"She is an immensely experienced and well-liked individual, and I am confident that she will help our newly-appointed CEO, Andrew Gossage, and the wider team, deliver Ultimate Products’ next stage of growth.”

Ms Adshead said: “I am thrilled to be taking over from Jim, who has done an outstanding job as Chair of Ultimate Products since joining the business in 2017.

"Everyone connected with Ultimate Products owes him a huge debt of gratitude for the leadership, counsel and expertise that he has provided to the Group during his tenure.

"I am looking forward to carrying on his excellent work at what is a hugely exciting time for Ultimate Products as it pursues its ambitious growth strategy to become the world’s best branded consumer goods business.”

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