James Cropper CFO resigns ‘with immediate effect’

Kendal-based paper products and advanced materials firm James Cropper plc announced that Isabelle Maddock has resigned from the board and from her role as chief financial officer (CFO) with immediate effect.

Cropper also announced the appointment of Bibby Marine executive Andrew Goody as its new chief financial and operations officer (CFOO).

“Andrew is expected to join the company and the board of directors this coming autumn after completing his period of notice,” said Cropper.

“Andrew’s appointment is subject to the usual regulatory approval and a further announcement will be made in due course.

“Andrew has over 20 years’ experience as a Finance Director across a variety of sectors.

“He is currently the Finance Director for Bibby Marine and previously worked at Garic, Bibby Group’s plant hire business, during which time the business saw revenue growth of 80% and more than doubled EBITDA.  

Prior to Bibby, Andrew worked as Finance Director for TJ Hughes. He spent the early years of his career and qualified as a chartered accountant with KPMG.

“Andrew has a proven track record in developing and delivering successful investment strategies as well as improving working capital. He has extensive financial, commercial, M&A and business transformation experience.”

Maddock said: “It has been a privilege to be CFO of James Cropper over the last nine years and to have been instrumental in navigating the company through many challenging years whilst shaping where we focus and grow.

“James Cropper has a hugely bright future and is well positioned to create long term value for its shareholders.”

James Cropper CEO Steve Adams said: “Isabelle joined the group in 2006, has been CFO since 2014, and has been a valued member of the board and leadership team throughout her years of service to James Cropper.  

“Isabelle has played an important role in protecting the business through challenging times, including the Covid pandemic, as well as creating the financial strength and discipline that will enable James Cropper to continue to deliver the ambitious growth strategy.

“I want to personally thank Isabelle for her hard work and dedication during this period, and I wish her all the very best for the future.”

Goody said: “I’m really pleased to be joining James Cropper and look forward to working with the team to build upon the strong foundations in place as it delivers on its exciting strategy for accelerated revenue and profit growth.”