Hornby appoints Steve Cooke as new CEO

AIM-listed model train maker Hornby has appointed current group finance director Steve Cooke as its new chief executive with immediate effect.

The company said on Tuesday that it was looking to appoint an interim finance director in the near term.

Shares in the company rallied back in February when it announced the departure of CEO Richard Ames following the third profit warning in five months.

Executive chairman Roger Canham said: "I am delighted to announce that Steve will be Hornby's new chief executive. He has made a significant contribution to the group since he joined and I am confident that he will lead the recovery in the financial performance and delivering value for our shareholders."

Steve Cooke said: “Hornby has an excellent portfolio of much loved brands. I am excited by the prospect of leading the business and I am looking forward to the challenge of driving Hornby forward, building on the progress that has already been made in transforming and modernising the group."

At 1300 BST, Horny shares were down 3.6% to 37.36p.