THE LONG-SERVING CFO of furniture and flooring company ScS is to leave the business later this year.
Ron Turnbull will quit ScS, staying on for as long as required during its current financial year, and will leave following a handover process to his successor.
Turnbull joined ScS, one of the UK’s largest home furnishings providers, in 2004 as FD and company secretary from Pubmaster. At Pubmaster he had served for 12 years, including terms as FD and then COO. He spent a significant portion of his early career in accounting and audit with KPMG and Price Waterhouse.
He has steered ScS through turbulent waters. It entered administration in 2008 before its purchase by Sun European Partners. ScS listed on the London Stock Exchange in January, in a deal that valued the company at £70m with Sun retaining a 41.6% share.
Entering the market at 175p per share, its current price is 164.75p, having slumped in May after announcing a 15.9% sales slump for the like-for-like month period.
“I would like to thank Ron for his significant contribution to ScS over the last 11 years; in particular for the key role he played in achieving a successful IPO for the group in January of this year. I and the board wish him every success for the future,” said ScS chairman Alan Smith.
In tandem with the departure announcement, ScS revealed more positive figures for the year to 25 July 2015. Total like-for-like sales were up 5%, and 1.5% up on the last six months.