City briefs: Carclo; SimplyBiz; and more

Wakefield-based manufacturer Carclo Group says Joe Oatley has been appointed chairman of its Board with immediate effect.

Oatley joined the Board as a non-executive director and chairman of the remuneration committee in July 2018.

He is also currently a non-executive director of Wates Group and Centurion Group and previously in his career was chief executive of Cape PLC and Hamworthy PLC.

A Carclo spokesman added: “Subsequent to the departure of the previous chairman on 24 March 2020, it has become clear that the search for a permanent replacement may take significantly longer than previously anticipated.

“The Board believes it is essential to have a chairman in place given the current challenging market environment and the need to secure a long-term financing position for the Group, and has accordingly asked Joe to assume the role while continuing to search for a longer-term replacement.”

Peter Slabbert, senior independent non-executive director, said: “Joe has made a considerable contribution to the Board to date and will provide strong leadership during a difficult time until a longer-term replacement can be found.”

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The Board of SimplyBiz, a business support company based in Huddersfield, say they remain confident about the firm’s future despite disruption being inflicted by the pandemic.

In an update released today they say the company continues to generate cash, is trading comfortably within bank covenants and note there is no foreseeable requirement for additional external capital.

The update adds: “The social distancing restrictions put in place by the UK Government have prevented the continuation of the majority of mortgage valuations, and the teams that provide these services have been placed on the UK Government’s Job Protection scheme.

“Management has also implemented effective short-term cost saving initiatives, including freezing pay increases and bonuses for staff and reducing executive directors’ pay on a seamless basis.”

As part of the Group’s succession planning, senior independent non-executive director, Gary Hughes, will be appointed deputy chairman of the SimplyBiz Group from 27 April 2020.

It is planned that Hughes will be appointed chairman of the Group at the 2021 AGM, and current chairman and  founder, Ken Davy, will take up the role of deputy chairman at that time.

As previously announced, Tim Trotter intends to retire and will step down from the Board at the AGM today. The Board is actively seeking to appoint a replacement.

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Shipley-based electronics manufacturer, Filtronic, has made “substantial changes” to its workplace layouts, staff movement patterns, hygiene procedures, and proximity measures in response to the virus outbreak.

But it notes staff in its manufacturing and support operations are continuing to work normal hours, despite various measures taken to enable social distancing.

Filtronic, which makes products for the wireless telecoms and communications markets, also says most of its office staff have been working from home for a month now.

The firm’s latest update explains: “Our principal IT systems have long been cloud based and the nature of our work requires us to have robust and very secure IT systems.

“As one would expect in the current circumstances, our supply chain is a key concern. Although we are addressing some areas of concern, we do not foresee any critical shortages at this time.

“Our customer base remains positive and to date we have not been advised of any anticipated programme curtailments or deferrals.”

Reg Gott, chairman, said: “Although the measures we have taken to protect our staff and the business as a whole are somewhat disruptive to efficient operations, we enjoy the support of a great team of staff committed to meeting customer deliveries.

“We look forward to updating shareholders on our trading performance post our full year ending 31 May 2020.”

The company says the outbreak has delayed its process to secure a new CEO, so it does not expect a new CEO to join it until beyond quarter one of its new business year, which starts in June 2020.

Gott will therefore continue to serve as executive chairman until a new CEO arrives.