LONDON, UK: Distribution Finance Capital Holdings plc, a specialist bank providing working capital solutions to dealers and manufacturers across the UK, announced that after a thorough search process including external candidates the Board has concluded to appoint Mark Stephens as Non-Executive Chair of the Company with immediate effect.
Prior to this appointment, Mark was an existing Non-Executive Director of the Company, holding the position of Senior Independent Director since joining the Board on 3 July 2017 and has held the position of Interim Non-Executive Chair since May 2021.
Following his appointment, Mark will continue to Chair the Company’s Remuneration and Nomination Committees.
The Board has already started a search process of an Independent Non-Executive Director who will, once appointed, Chair the Risk Committee. In the intervening period, Carole Machell will additionally Chair the Company’s Risk Committee.
These changes are subject to regulatory approval.
Commenting on his appointment, Mark Stephens said: “I am delighted to be appointed Chair of the Group and to be able to bring my extensive experience to help guide the board and support the strategic development of the business. The firm has developed extensively over the last couple of years and most importantly since being authorised as a bank.
Distribution Finance Capital Holdings is in an excellent position to build on the solid foundations in place and the market opportunities before us.”