Finance chief steps down at cosmetics giant with immediate effect

PZ Cussons

Cosmetics giant PZ Cussons announced this morning that its chief financial officer has stepped down with immediate effect.

The news came as the Manchester firm issued a Stock Market statement which said trading is in line with expectations.

Brandon Leigh, chief financial officer, has resigned and has stepped down from the board with immediate effect.

Caroline Silver, chair of the firm, said: “The board wishes to express its thanks to Brandon for the significant contribution which he has made to PZ Cussons over 22 years with the business.

“He was appointed to the board in 2006 and has played a leading role in the company’s development since that time. We wish him all the very best for the future.”

Pending the appointment of a new chief financial officer, Mr Leigh’s responsibilities will be assumed by Alan Bergin, currently commercial finance director on the company’s executive leadership team.

Full year profit expectations at the firm remain in line with the guidance issued at the time of the interim results in January and reiterated in the April trading update.

Profit before tax and exceptional items for the year expected to be close to £70m.

The expected outturn for the year reflects a resilient performance in Europe and Asia driven by product innovation and renovation as well as distribution expansion.

Performance in Africa has continued to be disappointing as a result of the economic situation in Nigeria and the challenging conditions at the port.

Full year results will be released on 23 July 2019.