Chairman blasts ‘keyboard warriors’ as he steps down from role

Tandem Group, the Birmingham-based manufacturer of toys and sports equipment, says revenue increased by almost 29% to £38.8m last year.

The news comes as the firm revealed that long-standing CEO Steve Grant will step down from the role and move to a non-exec position, while non-executive chairman director Mervyn Keene said he is leaving the firm altogether.

Jim Shears, currently group finance director, will take up the position of CEO at the same time.

Shears will also become joint managing director of the company’s trading subsidiary MV Sports & Leisure with group commercial director, Phil Ratcliffe, who will also retain his sales and marketing responsibilities for the business.

Keene said: “I have decided to stand down as chairman of the Group.

“I would like to thank our customers, suppliers and most importantly our wonderful staff for their support during my tenure. The Group has outperformed many of its peers as a result of our dedicated and experienced team. It is essential to the future of the Group that these employees are retained and sufficiently rewarded and motivated to deal with the many issues that we are facing.

“When I was appointed non-executive chairman the share price was 110.5p. Today as I announce my intention to step down the price is 205p per share. Despite this, it is disappointing that internet posters, who often hide behind absurd pseudonyms, continue to type inaccurate statements and offensive remarks. There are an irritating few of these keyboard warriors who have no commercial experience but think that they could run the Group better.

“Our industry, like others, can be volatile with no guarantee of year to year growth. As I said earlier the biggest asset that the shareholders have is our people. They are highly respected by our customers and suppliers and as such are critical to the health and stability of the business going forward.”