Ultimate Products PLC - Manchester-based owner of homeware brands, including Salter and Beldray - Appoints Andrew Gossage as chief executive officer, replacing Founder Simon Showman, who will remain on the board as chief commercial officer. Gossage joined Ultimate Products in 2005 initially as finance director before being promoted to managing director in 2014. Says: "Since then, he has been responsible for the group's strategy as well as overseeing its operational functions and online business." Showman founded Ultimate Products in 1997 and has since led the firm. Says Showman will continue to oversee Ultimate Products' commercial functions including sales, buying and product development as COO.

Founder Showman says: "I am confident that [Gossage] will do an exceptional job in leading Ultimate Products into the next phase of its growth journey... I am very excited to be taking on the new role of chief commercial officer, which will allow me to focus on the elements of the job that I relish the most, including business development, product development and managing key retailer relationships. I am particularly looking forward to spending more time with our customers in the UK and internationally, building the longstanding and strategic partnerships necessary to drive Ultimate Products' future growth."

Incoming CEO Gossage says: "I am looking forward to continuing to work with Simon and the rest of our excellent team to build on our current capabilities with the ambition of making Ultimate Products the world's best branded consumer goods business. Our strategy remains unchanged, which is to create beautiful and more sustainable products for every home and pursue growth via the online, supermarket and discount channels both here in the UK and internationally."

Current stock price: 151.65 pence, up 4.6%

12-month change: down 9.6%

By Greg Rosenvinge, Alliance News senior reporter

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