SIG names its new group finance director

INSULATION giant SIG has appointed Doug Robertson as its new finance director following the resignation of Gareth Davies.

The Sheffield-based group said Mr Robertson will join the company on November 1 and he will be appointed to the board on December 1.

Mr Davies has decided to leave SIG after 18 years with the company. He will resign as a director of the company on November 30 following a handover period to Mr Robertson.

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Mr Robertson, 57, was finance director of composites distributor Umeco from 2007 to 2011. Prior to that he had the same role at childcare products firm Seton House Group from 2002 to 2007.

From 1994 to 2000 he held a variety of divisional finance director roles within Williams. In 2000, he became managing director of Tesa Group, the hotel security division of Chubb.

SIG’s chief executive Chris Davies said: “I am delighted to welcome Doug to SIG. He brings with him extensive strategic, operational and financial experience which will prove invaluable to the group through its next stage of development.

“I would like to thank Gareth for his significant contribution to SIG over a number of years. He leaves the group in a strong financial position and we wish him every success for the future.”

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Earlier this year Gareth Davies said he wanted a fresh challenge following nine years in the finance director’s role.

“I’ve been with the group for 18 years,” he said.

“We’ve been through periods of strong growth and periods where we’ve had to restructure. I need to move on and be refreshed.”

SIG has warned that growth will slow during the rest of this year as it comes up against spending cuts, weakening economies and tougher comparatives.

In the six months to the end of June, SIG’s sales from continuing operations were up by 10.2 per cent to £1.34bn. Underlying pre-tax profits soared 63.9 per cent to £35.4m.

But the group said a trend of weakening sales underlines its caution.

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