SIG PLC
09 October 2026
FOR IMMEDIATE RELEASE
LEI: 213800VDC1BKJEZ8PV539 October 2026
SIG plc
(the “Company” or “SIG”)
Chief Executive succession
SIG is pleased to announce that Simon Kesterton, Chief Financial Officer, will be appointed Chief Executive Officer with effect from 1 May 2027. Pim Vervaat will remain Chief Executive Officer until 1 May 2027, when he will transition to become non-executive Chair. The Board has commenced a process to identify Simon Kesterton’s successor as Chief Financial Officer and a further announcement on this will be made in due course.
The CEO succession process reflects the intentions set out in the Company’s announcements from July 2025, that Pim Vervaat would take up the role of Chief Executive Officer in October 2025 before transitioning to the role of non-executive Chair approximately 18 months later.
Andrew Allner, Chair, said: "Since joining SIG as Chief Financial Officer, Simon has brought valuable commercial insight and strong financial discipline to the business, as well as being integral to development of the Vision 2030 strategic plan. The Board believes that Simon is exceptionally well placed to sustain the delivery of Vision 2030 as CEO."
Pim Vervaat, Chief Executive Officer and Chair Designate, said: "The delivery of our Vision 2030 targets is central to strengthening SIG’s performance, cash generation and balance sheet. Simon is already making an important contribution to their delivery through his financial leadership, rigorous performance management and transformation experience. I look forward to continuing to work closely with him so that we maintain momentum and focus across the Group."
Simon Kesterton, Chief Financial Officer, said: "It is a privilege to have been selected to become Chief Executive Officer of SIG on 1 May 2027. The Vision 2030 plan is at the heart of our priorities, notably delivering at least £100m of cash generation by the end of 2027 and £50m of run rate operating profit improvement by mid-2028. I look forward to continuing to work with Pim, the Board and the wider leadership team through my transition to CEO, and beyond, to drive execution and to create long-term value for our shareholders."
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SIG plc |
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+44 (0) 114 285 6300 |
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Andrew Allner |
Chairman |
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Pim Vervaat |
Chief Executive Officer and Chair Designate |
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FTI Consulting |
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+44 (0) 20 3727 1340 |
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Richard Mountain |
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Vicky Hayns |
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Note to editors:
In its half year report for the six months to 30 June 2026, released on 4 August 2026, the Company set out the following targets as part of its Vision 2030 strategic plan:
- £50m run‐rate operating profit improvement targeted by mid-2028
- At least £100m cash generation by the end of 2027
- 3% ‐ 5% operating margin through the cycle
- Leverage less than 3.0x net debt to EBITDA
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