New CFO for Halfords

REDDITCH-based Halfords has announced the appointment of Jonny Mason as Chief Financial Officer.

The appointment takes effect from October 12, 2015, at which time Mason will become a director of the company and member of the board.

Mason is currently CFO of Scandi Standard, a Scandinavian company that successfully listed in Stockholm in June 2014.  Prior to that he was CFO at Odeon and UCI Cinemas for eight years and Finance Director of Sainsbury’s Supermarkets where he worked for five years.  His early career was at Shell and Hanson.

Jill McDonald, Halfords CEO, said: “I’m delighted that Jonny is joining Halfords as our new CFO. He brings significant commercial and financial experience from his time across a range of consumer and retail businesses and I look forward to working with him.”

Short term revenue constraints impact LightwaveRF

BIRMINGHAM home technology firm, LightwaveRF, has warned that short term revenue constraints are likely to hold back its financial progress this year.

In a trading update, the company, the creator of the LightwaveRF Smart Home Platform and products for the Internet of Things, said that despite the problems it overall confidence was high due to business opportunities increasing.

“The company continues to make significant progress with existing and new customer relationships and its sales proposition. Some of these have required modifications and developments to enhance product capability which in the short term is holding back revenue,” it said.

“As a result, with three months to go before year end the company now expects short term revenues to be constrained relative to current market expectations. Revenue and losses for the year to September 30 are now anticipated to be broadly similar to last year.”

The company has recently signed Heads of Terms with global electrical company, Havells, to integrate LightwaveRF in to a cooling, lighting and power product range, while it has also completed the development of its Building Management Solutions (BMS) software which offers dashboard style control and monitoring of all aspects of building energy consumption and management.

Commenting Mike Lord said “Although these short term revenue constraints are holding back our financial progress this year the opportunities for the business are more numerous than ever our confidence for the future progress of the business remains strong.”
 

Board changes at Ricardo

ENGINEERING consultancy Ricardo has announced the retirement of Professor Hans Joachim Schöpf retired from its board.

Prof Schöpf joined Ricardo in September 2007 as a non-executive director to its German division and Ricardo Technology Steering Group.  He became a non-executive director of the Ricardo board in July 2009.
 
Commenting, Terry Morgan, chairman of Ricardo, said: “On behalf of the board I would like to thank Hans for his positive contribution in guiding the development of Ricardo’s global strategy over the last six years, and we wish him all the very best for the future.”

The company has also announced the appointment of Laurie Bowen as a new NED.

Ms Bowen joined IBM in 1983, rising to Managing Director, Lloyds TSB in 2004.  In 2006, she joined BT as President, Global Financial Services and Chief Executive Officer, Radianz leaving BT, in 2010 as Managing Director, Commercial & Brands. She then moved to the Tata Group in 2010 becoming President, Enterprise Business & Growth Ventures, Tata Communications in 2012.  Since 2014, she has been Chief Executive Officer, Business Solutions, Cable & Wireless Communications.  
“This is again a demonstration that Ricardo can attract the very best of international talent,” added Morgan.

The company has also confirmed that its £42.5m acquisition of Lloyd’s Register Rail from Lloyd’s Register Group is materially complete. It is waiting on the approval from the Chinese Government for the acquisition of the small rail joint venture part owned by Lloyd’s Register Group in China.  This process is expected to take a further three months.

New NED for Carillion

WOLVERHAMPTON-based Carillion has announced that Keith Cochrane has been appointed a non-executive director of the company with immediate effect.

Cochrane will serve on the Audit, Remuneration, Nomination, Sustainability and Business Integrity Committees, and will become Senior Independent NED on September 1, in succession to Steve Mogford, who will stand down on December 31, 2015.

Cochrane, aged 50, is the chief executive of Weir Group, the FTSE100 engineering business providing innovative engineering solutions in global energy and natural resource markets. 

He joined the Weir Group as finance director in July 2006 and was appointed chief executive in November 2009. Following a number of years with Arthur Andersen, he joined Stagecoach Group in 1993. He was appointed FD in 1996 and Group Chief Executive in 2000. He joined Scottish Power in 2003 where he became Director of Group Finance.

Commenting, Carillion chairman Philip Green said: “We are delighted that Keith Cochrane has joined the board. His considerable experience as a business leader will enable him to make a valuable contribution to the future development of Carillion.

“I would also like to thank Steve Mogford for his outstanding service to the board and the company.”