McBride CEO leaves after seven months

Manchester-based McBride plc, the manufacturer of household cleaning products, said on Thursday it appointed Chris Smith as chief executive officer to succeed Ludwig de Mot.

McBride said de Mot, who was appointed CEO on November 1, 2019, has left the group “with immediate effect.”

Smith joined McBride in 2015 as chief financial officer (CFO).

McBride’s biggest shareholder is hedge fund Teleios Capital Partners with 23.71%. Gilead Capital owns 12.06% and Zama Capital owns 10.02%.

“The group’s nomination committee has commenced a search for a CFO and in the meantime the group intends to appoint an external candidate as interim who will be supported by the group’s experienced finance team,” said McBride.

“During this time, Chris will provide support with the transition and an orderly handover of CFO responsibilities to his successor.

“The board can confirm that there has been no material change in the trading or financial prospects of the group since McBride issued its trading update on 19 May 2020.”

McBride chairman Jeff Nodland said: “I am delighted that Chris has accepted the role as the group’s new CEO. 

“Over the five years Chris has been with McBride, he has demonstrated his strong international leadership capabilities in multi-site and multi-country organisations. 

“Chris has always been dedicated and passionate about the business and the Board believe his determination and enthusiasm make him the best person to lead the company through its strategy review and beyond.”