Premier Farnell announces Laurence Bain as new CEO
Harriet Green to lead Thomas Cook Group after six successful years
24 May 2012 – London, Premier Farnell plc (LSE:pfl) has today announced that Laurence Bain is to take up the role as Chief Executive of the business with effect from 12 June 2012. He takes the role as Harriet Green moves to the Thomas Cook Group as their new Group Chief Executive Officer, after leading the distributor through a period of strategic transformation.
Since joining the business in 2006 Harriet Green, and the wider management team, have turned Premier Farnell from a catalogue distributor to a multi-channel organisation. Over 55% of Premier Farnell’s business is transacted via e-commerce channels, a substantial increase on the 12%, via the web, when Harriet joined the business.
Premier Farnell has also developed the industry’s leading engineering community, element14 Community, and has also continued to have a strong and growing presence in APAC and other developing markets, as part of its core strategy for profitable growth.
Since joining Premier Farnell in 2002, as Chief Operating Officer, Laurence Bain has been an integral part of the transformation of the business and a founding architect of the current strategy. Prior to working for Premier Farnell Laurence spent 18 years at Motorola, including five years in their semi-conductor business and latterly as Vice President and COO for the Personal Communications Sector in Europe, Middle East and Africa.
Laurence Bain, said: “I am very positive about the opportunities ahead of us. With continued focus on providing great service to the engineering community, our multichannel strategy, led by the web and growth in emerging markets, I believe that the company can go from strength to strength. I have an outstanding management team who will help to drive the company forward to lead the industry and provide excellent experience our customers deserve. I wish Harriet every success in her new venture.”
Harriet Green, commented: “Premier Farnell is an extraordinary business which I have been privileged to lead with the support of a strong management team. We have made significant progress in transforming the company into the trusted global source for engineering solutions. I am confident that Laurence has the knowledge and experience to take the group forward. I leave Premier Farnell knowing that the company has a bright future under strong leadership.
Val Gooding, Premier Farnell Chairman, added: “I would like to thank Harriet for her outstanding leadership and the very significant contribution she has made over the past six years to the strategic transformation of Premier Farnell. She has led the company to become a global, high service, web business, consistently delivering industry leading returns across the economic cycles whilst building an excellent team thus ensuring robust management succession. We wish Harriet well for the exciting opportunity ahead for her.
“I am delighted that Laurence has accepted the role of Chief Executive. He has an outstanding knowledge of our market and our business and is committed to delivering high service to our customers and improving the profitability of the company. I look forward to working with him in the next phase of our journey.”
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About Premier Farnell
Premier Farnell plc (LSE:pfl) is a global leader in high service distribution of technology products and solutions for electronic system design, maintenance and repair. Its differentiated proposition includes 29 local language transactional websites, and the critically important element14 Community for design engineers – an industry first (www.element14.com). With sales last year of £973.1m and underlying profits of £104.6m the Group distributes its comprehensive portfolio of products and services throughout Europe, North America and Asia Pacific, supported by a global supply chain and an inventory profile developed to anticipate and meet its customers’ needs.
While global in scope, Premier Farnell recognises the individual needs of each market and has continued to internationalise its model accordingly. It trades locally as Farnell in Europe, Newark/element14 in North America and Farnell Newark in Brazil. Across Asia Pacific the business trades as element14.
- Operations in 35 different countries
- 4,100 employees
- Over 2 million customer contacts in 156 industries
- Over 400,000 products stocked with access to over four million more on demand
- Global leader in legislation RoHS, WEEE, REACH
For more information visit the website at Premier Farnell.
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