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The Works has announced the appointment of John Goold and Mark Kirkland as non-independent non-executive directors effective immediately.
Goold is chief executive officer and Kirkland is chief financial officer at Kelso Group Holdings plc, an investment company that seeks to identify, engage and unlock trapped value in the UK stock market.
Kelso have been investors in The Works since September 2023 and on 30 October 2023 announced a holding in The Works of 5.1%. They will become members of the board but, as non-independent directors, will not join any committees. Their focus will be on all matters relating to shareholder value.
Carolyn Bradley, chair of The Works, said: “I am pleased to welcome John and Mark to the board following Kelso’s investment in The Works last year. They bring extensive corporate and operational experience at board level and will be an asset to The Works as we continue to deliver our ‘Better, not just Bigger’ strategy. We are grateful for their ongoing support and look forward to working together to drive shareholder value.”
Goold and Kirkland jointly said: “We have long believed that The Works has a strong customer proposition, a broad range of products with plenty of appeal and an important focus on affordability. By joining the board we can bring our experience, particularly working with listed small cap businesses, to drive shareholder value.
“We are supportive of both management and the strategic direction of the business and look forward to helping to restore the intrinsic valuation of The Works, which we believe is much higher than the current share price reflects.”
