James Nichols steps down after 18 years at Vimto maker

25th Oct 2023 07:49

(Sharecast News) - The great grandson of the founder of Nichols has left the company after 18 years, the Vimto maker announced on Wednesday.

The AIM-listed firm said that James Nichols, 43, had stepped down from the board and left the business with effect from Tuesday, as he wanted to pursue a "fresh challenge".

James was a non-executive director, but had held a number of executive positions over the years. His father John, who has been with the firm for more than 50 years, stepped down last year as non-executive chair after 15 years in the role.

Liz McMeikan, who replaced John as chair, said: "On behalf of the board, I would like to thank James for his significant contribution over the past 18 years, and we wish him well and every success for the future."

It is expected that a new representative of the Nichols family - which owns around 34% of the company - will be appointed as a non-executive director "in due course", Nichols noted.

Nichols also said on Wednesday that Richard Newman had been appointed chief financial officer and company secretary. Newman, who was most recently chief financial officer at AIM-listed tissues specialist Accrol Group Holdings, will join the board in January 2024 before taking up the roles in March.

He replaces interim finance chief David Taylor, who will step down from the board in March.