Finance Team Updates from our CFO
I want to update you on a change impacting Finance where we have looked within the function for synergies to deliver savings due to the reduced revenues.
I regret to announce that the UK, Northern Europe and International Finance Director role will be made redundant, and as a result, Stuart Jell will be leaving the business with effect from 31st August. With this change, the Heads of Finance for the relevant regions will report directly to me in line with the organisation chart below.
Stuart joined Colart in 2017 when there were many weaknesses in our group finance infrastructure. Starting with establishing a Financial Planning and Analysis function, Stuart has effectively set a finance and governance structure for the UK, Northern Europe and International business units. Additionally, he has supported the Elephant business and been instrumental in bringing the Northern European business together under Project Tango. Built on these strong foundations, we have been able to deliver increasing levels of finance business partnering with Stuart stretching his remit to include project managing the successful rollout of the B2B portal across Europe.
Stuart states, "I have really enjoyed the last five years at Colart, and it will be a time in my career that I look back on fondly. I'm proud that I will leave the finance department in a better place than when I arrived and am confident that my team will continue to thrive in the future."
These financial challenges linked to the global economic situation are not unique to Colart, and many businesses have to make similar decisions. Colart remains a solid and resilient business, built around market-leading brands backed by strong manufacturing, sales, distribution, and support teams. Challenging though they are, the changes we are making today helps to ensure we can adapt and flourish in challenging times.
Please join me in thanking Stuart for his hard work and wishing him every success in the future.
Jonathan Spight
Chief Financial Officer