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PZ Cussons Sees Lower FY Revenue; CEO Alex Kanellis To Retire In January 2020

PZ Cussons Plc (PZC.L) said that it expects full year revenue and adjusted profit before tax to be modestly below the prior year on a like-for-like basis. A stronger second half is expected subject to no further worsening of the economic and trading environments across its key geographies.

The company also announced that Chief Executive Officer Alex Kanellis will retire from the company on 31 January 2020.

The company has initiated a search for Alex's successor, and expects to complete the process in the first half of 2020. Pending the appointment of the new Chief Executive Officer, Caroline Silver will become Executive Chair with effect from 1 February 2020. Alan Bergin will continue as interim Chief Financial Officer.

In its trading update for the half year ended 30 November 2019, PZ Cussons said that the challenging market conditions across key geographies led to a decline in first half revenue and operating profit compared with last year.

The company will announce its interim results for the half year ended 30 November 2019 on 28 January 2020.

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