Avon Rubber announced this morning that it has appointed Nick Keveth as group finance director from 1 June 2017. Avon Rubber appointed Paul Rayner acting as Interim Group Finance Director at the end of 2016, so we have been expecting an announcement and see it as a positive step forward for the company. The new CEO Paul McDonald has been in his post since February so the appointment of a permanent Finance Director completes the new management team.
Nick Keveth comes to Avon Rubber after 12 years at Imperial Brands, the FTSE 20 tobacco group, where he was Director of Finance, Planning and Reporting. He is an accountant by profession with experience in both audit and advisory. This is a key appointment for the company and an external candidate will bring new skills to the Group. This is an important step up for Mr Keveth as it will be his first CFO role, but CEO Paul McDonald seems confident that he has found the best person for the job. Mr McDonald is a longstanding Avon Rubber employee and therefore is likely to have made this appointment confident that Mr Keveth will be a good cultural fit.
Avon Rubber has a very clear strategy of driving organic growth through R&D and good execution, while making tactical and strategic acquisitions where appropriate. Therefore, Mr Keveth’s M&A experience meets the needs of the company and complements the wider skill sets of the management team,
After a decade with a very stable management team, Avon Rubber has undergone significant change at the top in the past six months. However, this appointment is a positive sign the company is now ready to move forward and we understand the CEO has further strengthened the divisional sales management with external recruitment from key competitors. H1 17 results will be reported on 16 May 2017.