Changes at top as Fylde coast energy group powers on

After founder and chief executive Janet Thornton stepped down in October, now her husband Matthew Thornton is to step down as sales director.

The move will come after the release of the group’s preliminary results for the year ending December 31, 2017, which are due out on March 22. It’s corporate order book in a trading update this week is said to stand at £39m, 39 per cent up on 2016.

Mr Thornton will be staying on as as a non-executive director, to continue to offer his insight and experience and will remain a supportive shareholder of the group having entered into an orderly market agreement in relation to his holding expiring March 31, 2019.

Following his transition, the board will consist of two executive directors supported by a non-executive chairman and three non-executive directors.

Janet Thornton resigned in October for personal reasons from the firm she founded in 2000. The then chief operating officer Mark Dickinson took over the top job.

Gordon Oliver, group finance director of flooring specialist James Halstead Plc, has been appointed as an independent non-executive director. He will chair the nominations committee and become a member of the audit committee, chaired by Richard Logan.

Michael Fletcher, non-executive chairman,said: “We would like to welcome Gordon as an independent member of the Board. Gordon has extensive quoted company experience having guided the development of James Halstead plc to a market capitalisation in excess of £875m during his tenure.

The board looks forward to benefiting from the knowledge and experience he will bring as we work towards another year of significant growth and development.

“On behalf of the board and all at Inspired Energy, I wish to thank Matthew for his invaluable contribution to the group’s development. Matthew joined in 2002 and worked tirelessly in his role as sales director setting up Inspired Energy’s risked managed division which has gone from strength to strength and forms a core part of the group’s corporate division.

"We look forward to drawing on Matthew’s experience and expertise in his new capacity as a Non-Executive Director.”

On the trading up date, Mark Dickinson, CEO of Inspired Energy, said: “I am delighted to report on a very strong period of growth for the group across all key areas: financially, operationally and strategically.

"In 2017, the group completed three value-enhancing corporate acquisitions, a debt refinancing and a £9.0m placing, providing an excellent platform for the business to continue to deliver on our stated growth strategy. I am pleased to report all three acquisitions concluded in 2017 are performing in line with expectations and the integration process is progressing well.

“Inspired Energy had an excellent 2017 and I am confident that 2018 will be another year of significant progress for the group with trading in the current year to date strong.”