Hornby unveils board changes
Hornby has announced some changes to its board of directors following a recent strategy review and refinancing.
The models and collectibles company said James Wilson has decided that now is the right time to step down as a non-executive director due to commitments increasing with his other board appointment and The Huginn Fund.
John Stansfield, Hornby non-executive chairman, said: “The board would like to thank James Wilson for his contribution to the group over the past three years during a period of significant change for the business, of which he was instrumental. James leaves Hornby with our very best wishes for the future.”
In addition, the company has announced the appointment of Dan Carter as a non-executive director.
Currently an analyst at Phoenix Asset Management, Carter does not hold any other directorships but has an interest in the Aurora Investment Trust which owns 14.2% of the ordinary shares of Hornby.
Stansfield added: “The board is delighted to welcome Dan to the board and look forward to his contribution to the next stage of the turnaround process.”
Last month, Hornby announced that its pre-tax losses had narrowed to £3.4 million from £5.3 million in the year to 31 March as revenue increased to £37.8 million from £32.8 million in the previous year.
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