New FD for Abbeycrest
JEWELLERY group Abbeycrest has appointed a new group finance director.
Simon Lazenby joins the board of the Leeds-based company with immediate effect.
He joins from The Christy Group, where he held the same post.
Prior to this, Mr Lazenby was employed by Abbeycrest International as financial controller, later heading that division.
He also worked at Tieto -formerly Attentiv plc – leaving the company as financial controller after playing a significant role in its AIM flotation in March 2004.
Executive chairman Simon Ashton said: “The appointment of Simon Lazenby as group finance director provides further strength and depth to the board of Abbeycrest.
“Simon has a broad range of skills and, importantly, a specific understanding of the company that will enable a smooth transition into this role.”
Abbeycrest also announced that Nick Hamley has been appointed executive chairman of Abbeycrest’s subsidiary Brown & Newirth, where he will focus on developing the business.
Last month, Abbeycrest reached a deal with its Thai bankers over capital facilities just weeks after revealing it had breached covenants with its senior lender.
The wholly owned subsidiary of the Leeds-based company, Abbeycrest Thailand, agreed an increase of £2.1m to its seasonal working capital facilities with Siam Commercial Bank.
In July, Abbeycrest said that it was suffering from rising gold prices which had hit customer demand in both its Essentials and Brands divisions and was in discussions with Burdale Financial over breached profit covenants as well as Siam Commercial.
Follow TheBusinessDesk.com on Twitter for business news updates throughout the day
