Troubled loo roll maker appoints new finance boss

Loo roll maker Accrol has announced that it has appointed a new chief financial officer.

The Blackburn firm has endured some tough times over the last two years and recently embarked on a turnaround plan.

The company has also raised extra capital through a conditional offer on the Stock Market.

Stev Townsley, aged 50, has been appointed as chief financial officer with immediate effect.

Steve joins Accrol from boiler installer Help-Link where he was finance director. He played an integral role in the successful turnaround and sale of the business.

Before that he built up 18 years’ experience in finance roles at a number of retail and distribution businesses, including Safeway, Exertis and Dixons, where he helped drive significant profitable growth, both organically and by acquisition, whilst maintaining a strong balance sheet.

Steve replaces Martin Leitch, who joined the company as Interim Chief Financial Officer in February to support the turnaround of the business.

Martin will remain with the business in the short term to effect an orderly handover.

Dan Wright, chairman of Accrol, said: “I have seen Steve’s expertise and tenacity in action and his experience will be a strong asset, as we continue the turnaround of the business.

“His appointment strengthens Accrol’s new management team further and will help ensure that the business is best placed to continue to grow and develop its leading position with retail customers.”

Gareth Jenkins, chief executive of Accrol, added: “We are very pleased that someone of Steve’s calibre has chosen to join us.

“The business will benefit considerably from his broad and relevant experience across a range of connected sectors and I welcome him to the team.”

“The board thanks Martin for the valuable work he has completed in recent months, especially in the business turnaround plan which remains fully on schedule, and wishes him well in the future.”

Steve is not currently a director of any other company.