McCarthy out, Adshead in as Ultimate Products chair

Ultimate Products, the parent of homeware brands including Salter and Beldray, announced a change in its leadership on Monday, with James ‘Jim’ McCarthy deciding to step down as non-executive chair from 31 July.

The London-listed company said that in his place, Christine Adshead, an independent non-executive director since September 2020, would assume the role of non-executive cair.

It noted that McCarthy had been chair since 2017, before the group's initial public offering.

“It has been a privilege to be Ultimate Products' chair over the last seven years, and I have thoroughly enjoyed playing a part in the ongoing success of this superb business,” said outgoing chair Jim McCarthy.

“Having worked with Christine for over three years now, I know that she will make an excellent chair of Ultimate Products given her understanding of and support for the group's culture, strategy and people.

“She is an immensely experienced and well-liked individual, and I am confident that she will help our newly appointed CEO, Andrew Gossage, and the wider team, deliver Ultimate Products' next stage of growth.”

Adshead would meanwhile bring much experience to her new role, the board said, having spent nearly two decades at PwC, where she specialised in transaction advisory services across various corporate activities and sectors, particularly retail and consumer goods.

Her leadership as PwC's London region private equity leader and her involvement in the PwC supervisory board underscored her strategic and governance expertise.

Currently, Adshead is also a non-executive director and board member of Hill Dickinson LLP.

“I am thrilled to be taking over from Jim, who has done an outstanding job as chair of Ultimate Products since joining the business in 2017,” said incoming chair Christine Adshead.

“Everyone connected with Ultimate Products owes him a huge debt of gratitude for the leadership, counsel and expertise that he has provided to the group during his tenure.

“I am looking forward to carrying on his excellent work at what is a hugely exciting time for Ultimate Products as it pursues its ambitious growth strategy to become the world's best branded consumer goods business.”

Reporting by Josh White for Sharecast.com.