Benchmark changes CFO

News
201

Directorate change announced after aquaculture health, advanced nutrition, and genetics business issued profit warning.

In a press release on Wednesday, Benchmark has announced the appointment of Septima Maguire as Chief Financial Officer. Maguire is expected to commence her new role in November. Mark Plampin will remain with the business until January.

On Monday, the company suffered a 20 per cent share-price plunge after it posted a profit warning.

“The Company’s expectations of the revenue and profit mix for the full year have also changed. The Company is actively progressing its programme of operational and structural efficiencies, including key commercial licensing deals for its non-core animal vaccines, which, if completed this financial year, are expected to substantially offset the negative variance referred to above. However, there is a risk to the delivery of these deals within the current financial year,” Benchmark wrote.

Maguire joins Benchmark from Dechra Pharmaceuticals, an international provider of specialist veterinary pharmaceuticals and related products, where she spent four years. Having joined as Group Financial Controller she was Acting Group Finance Director between 2016 and 2017. She was most recently Corporate Development Director overseeing all aspects of acquisition activities, strategic projects, business development and investment initiatives playing a significant role in supporting the company during a period of high growth.

Previously, Maguire held a number of senior finance roles at Ardagh Group S.A., the international packaging manufacturer with revenues of EUR 9.1bn, over a period of six years. She has also held finance roles at Impress Global, CHN Capital and PricewaterhouseCoopers. She holds a Masters in European Union Law from the University of Leicester and is ACCA qualified.

Benchmark CEO Malcolm Pye commented: “We are delighted to have recruited someone of Septima’s calibre. She has extensive strategic, investor and operational finance experience and proven expertise in driving improved business performance. She will be a valuable member of the leadership team as we focus on implementing structural and operational efficiencies and delivering on our five year strategy to drive future growth and profitability.”

Benchmark Chairman Peter George added:”As Benchmark grows and moves from R&D spend to profit-generating we need to balance our skill mix. Septima is an excellent addition to the management team and the Board is very pleased to announce this appointment.”