This announcement contains inside information.
24 March 2021
Titon Holdings Plc
Appointment of CEO
Titon Holdings Plc ("Titon" or the "Group"), a leading international manufacturer and supplier of ventilation systems, and window and door hardware, is pleased to announce the appointment of Matthew Norris as Chief Executive Officer ("CEO"). Matthew will take up the position of CEO and join the Board on 12 July 2021.
Mat brings extensive experience from his previous roles, firstly at Ford Motor Company where he became a Program Leader and Product Development Manager and then working for Philips Electronics in their Consumer Lifestyle division, where he was Director of Manufacturing and Engineering at their site in Suffolk. Mat then worked for Johnson Matthey as General Manager at their Royston site before most recently becoming Operations Director for Jim Lawrence Lighting and Home, a manufacturer of high-end lighting and home furnishings products based in Suffolk. Mat has led innovation and delivered profitable growth and cultural change in all of his leadership roles.
As announced on 30 October 2020, David Ruffell will step down as CEO and leave Titon on 30 April 2021. Keith Ritchie, Executive Chairman, will assume the CEO responsibilities on an interim basis from 1 May 2021 until Mat joins the Group, assisted by the other Executive Directors on the Board.
Keith Ritchie, Executive Chairman, said: "We are delighted to welcome Mat to the Group. Following an extensive search and a thorough evaluation of candidates, we are confident that Mat has the skills and experience to lead Titon in the next stage of the Group's development and to introduce innovation to drive growth in all of our businesses."
Matthew Norris said: "I am delighted to be joining Titon at this exciting time in its history, with the increasing importance of good ventilation and energy efficient solutions. Titon has a great range of products and a good presence across markets with strong financial foundations. I look forward to meeting my new colleagues and working with them and Titon's other stakeholders to lead improvements across the business and enhance Titon's position as a leading international manufacturer of ventilation systems and window and door hardware. "
In accordance with Schedule 2(g) of the AIM Rules, Matthew James Norris, aged 43, holds or has held in the past 5 years the following directorships and partnerships:
Directorships/partnerships within the last 5 years
Jim Lawrence Traditional Ironwork Limited
There is no further information required to be disclosed in respect of the above appointment pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for Companies.
For further information please contact:
Titon Holdings Plc
Tel: +44 (0)7748 146834
Shore Capital (Nominated Adviser and Broker)
Tel: +44 (0)20 7408 4090
About Titon Holdings Plc
Titon is a leading international manufacturer and supplier of ventilation systems and window and door hardware with a reputation for quality products and high levels of customer service. Formed in 1972, the Group employs over 200 people, with 170 in the UK and 30 in South Korea. Titon is quoted on the AIM Market of the London Stock Exchange under the TIDM "TON".
Titon has a strong presence in the UK residential ventilation market with a comprehensive range of mechanical and natural ventilation products and is also a leading supplier of window and door hardware. The Group sells products into a range of European markets, and the USA market is supplied through a wholly owned subsidiary, Titon Inc. The Group has a joint venture in South Korea with a local partner and has its own manufacturing facilities in Seoul.