Hill & Smith PLC said its group chief financial officer, Hannah Nichols, will leave the company at the end of March to take up the same role at Coats Group PLC.
Nichols, who has served as CFO of the West Midlands, England-based provider of infrastructure products said since 2019, will step down following the release of Hill & Smith’s full-year results. The company has already begun the search for her successor.
‘Hannah has played an important role in the success of Hill & Smith since being appointed CFO over five years ago, and I wish her all the best in her new role,’ said Alan Giddins, chair of Hill & Smith.
Nichols said: ‘I have greatly enjoyed my time at Hill & Smith and am proud of the progress the business has made over the last five years. I believe the group is well-placed to deliver on the next stage of its strategic growth plan.’
Nichols will join Coats as CFO on April 24 and assume full responsibilities after its annual general meeting on May 21, succeeding Jackie Callaway, who has mutually agreed with the board of Coats to step down. Callaway, who has been with Coats for four and a half years, will assist with the transition until the end of June 2025.
Coats Chair David Gosnell said: ‘[Jackie] has played an important role in a number of significant operational and strategic developments for the group, and we wish her all the very best for the future.’
Gosnell also welcomed Nichols to the company, saying that the company is ‘excited to have found a great candidate who has the experience and skills to deliver the next part of the Coats journey.’
Nichols brings over two decades of finance experience, including roles at BT Group PLC, and currently serves as a non-executive director at Oxford Instruments PLC.
Shares in Hill & Smith were down 1.0% at 1,836.00 pence in London on Tuesday morning, giving the company a total market capitalisation of £1.48 billion. Shares in Coats were down 1.6% at 91.70 pence, with a total market capitalisation of £1.46 billion.
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