Hargreaves Services reshuffles board, trading remains in line

Durham-based Hargreaves Services said trading was in line with expectations at a group level, while confirming the arrival of a new finance director and departure of a commercial director ahead of its annual shareholder meeting.

Hargreaves, the haulage, waste transportation, mineral import, mining and processing group, said its property division, which was currently developing the Blindwells housing development in East Lothian, Scotland, had advanced sale processes for several other material properties but did note that "timing of such sales remains hard to forecast".

The board also used the update to confirm the recruitment of John Samuel as its new group finance director, joining the board on 2 January to succeed Iain Cockburn as he moves into a full-time role at Brockwell Energy, a newly-formed subsidiary of the group.

Chairman David Morgan said, "We are delighted to have hired a candidate of John's calibre. Over the past eleven years, John has worked successfully to grow and develop Renew Holdings. We look forward with excitement to the contribution that John will make to providing financial leadership at Hargreaves and in helping to develop and deliver the group's strategy."

Hargreaves also noted that Kevin Dougan would step down from the board and his role as group commercial director before leaving the group on 1 December. As part of the company's streamlining efforts, his position would not be replaced.

As of 0830 BST, shares had moved ahead 1.81% to 345.00p.