Franchise Brands PLC on Wednesday said it was considering a move to the Main Market and Official List, following its appointment of Peter Molloy as group chief executive officer.

The Macclesfield, England-based international, multi-brand franchisor focused on business-to-business van-based reactive and planned services said its consideration of the move from the AIM market is still at an early stage, but its appointment of a group CEO on Wednesday was ‘the first step in that journey’.

Peter Molloy was the CEO of the company’s existing water & waste services division, and will now be responsible for all four principal divisions of the group. Molloy has worked with Franchise Brands since 2017.

Chair Stephen Hemsley said: ‘The group has reached a scale where the timing is right for the appointment of a group CEO at board level, to separate my responsibilities and provide greater focus on the strategic and commercial development of the business to support our ambitious growth plans.’

The company said it will provide an update on its potential change in listing in due course.

Shares in Franchise Brands were up 4.1% at 164.50 pence each in London on Wednesday morning.

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