Bunzl finance director Brian May to depart; Inchcape CFO poached

Specialist international distribution and services group Bunzl said on Friday that finance director Brian May has decided to retire after more than 13 years in the role and 25 years at the company.

He will be succeeded by Richard Howes, who is currently CFO of automotive retailer Inchcape. Howes will join the group on 1 September, initially as chief financial officer designate, before joining the board and becoming CFO on 1 January 2020.

Before Inchcape, Howes was CFO of industrial thread and consumer textiles business, Coats. He originally qualified as a chartered accountant with Ernst & Young before moving to the investment bank Dresdner Kleinwort Benson where his focus was on mergers and acquisitions in the healthcare and aerospace sectors.

Howes has also worked at international food manufacturers Geest plc and Bakkavor, where he held a number of positions including that of CFO of Bakkavor.

Chief executive Frank van Zanten said: "On behalf of the board I would like to thank Brian for the outstanding contribution he has made to Bunzl's success over many years since he first joined the Group in 1993. His expertise and knowledge of the group have been extremely valuable in helping us to grow and develop into the business that we are today. Brian will leave the company with our very best wishes and our deepest gratitude and thanks for his dedicated service to Bunzl.

"I am delighted that following an extensive search and selection process we have been able to appoint Richard to succeed Brian. Richard has a wealth of experience across a number of sectors, working for multisite businesses with substantial global footprints. He has a strong track record of leading finance functions at a number of international public companies. We are pleased to welcome him to Bunzl."