RS Group plc (LSE: RS1), a global omni-channel provider of product and service solutions, today announced that Simon Pryce is to be appointed to the role of Chief Executive Officer (CEO) and Executive Director with effect from 3 April 2023. David Egan, currently Acting CEO, will work alongside Simon in his role of Chief Financial Officer (CFO).
Simon is a highly experienced business leader of customer focused, global industrial manufacturing and service businesses. He has a strong track record of driving results and delivering excellent stakeholder outcomes through enhanced performance and the effective execution of organic and inorganic growth strategies.
Most recently, Simon was CEO of Ultra Electronic Holdings plc for over four years which was acquired by Advent in August 2022. Prior to this, he was Group Chief Executive at BBA Aviation plc for 10 years and previously held a range of international finance and management roles. Simon has served as a Non-Executive Director of RS since 2016 and been Chair of the Remuneration Committee since 2019.
Rona Fairhead, Chair, said: “Following a rigorous selection process, we are delighted to appoint Simon Pryce as CEO of RS Group. Simon is an experienced and proven CEO of high performing international businesses with strong, effective cultures. He has been an enormously valued member of the RS Board for the last six years and been highly engaged in the development of the Group’s strategy. The Board is very confident that Simon has the right leadership style, skills and experience to lead RS to continued future success in the next stage of the Group’s growth.
“On behalf of the Board, I would like to thank and acknowledge the excellent work David has done, both as Acting CEO and as CFO, in driving progress and the continued successful transformation, performance and growth at RS. Additionally, I would like to thank all of the dedicated RS teams around the world for their hard work and continued passion and commitment to maintaining the momentum we have in the business.”
Simon Pryce said: “RS is a business that I have admired both as a Board member, and indirectly as a customer, for some time. RS has delivered a strong performance over the last few years. However, what excites me most is the significant potential of this Group, with its great people and culture. I relish the opportunity to work with David and our colleagues globally to drive the Group’s growth, further enhance operational execution and continue to evolve the RS high-performance, purpose-led culture.”
Simon will step down from all the Board committees on which he sits with immediate effect. Joan Wainwright will replace Simon as Chair of the Remuneration Committee.