DIRECTORS

meet our directors:

Joe was appointed in March 2011. He was appointed as non-executive Chairman at the GM in 2011. He has fulfilled the role of Executive Chairman on numerous occasions throughout his time with Coral Products PLC. Mr Grimmond is a Fellow of the Association of Accounting Technicians.

Joe Grimmond

Non Executive Chairman

Lance joined Coral Products Plc January 2024 from IG Design Group Plc where he served as Executive Board director from 2012, specifically as CEO IG Design Group International, and most recently based in Atlanta at IG Design Group Americas.

Lance previously served time abroad in both West Africa and India for PepsiCo Inc. Returning to the UK in 1997 as Operations Director for Dalgety-Spillers Plc then thereafter in Managing Director roles for Saint-Gobain S.A. UK and RHM Plc as well as re-engineering and selling a family-owned food manufacturing enterprise, to Northern Foods Plc in 2000, subsequently closing the entire business on their behalf on account of consolidation and relocation of activities.

Lance has served on the CBI Council of Wales since 2018 and assumed the responsibility of Chair January 2023 stepping down December 2023 on account of relocation to The North West.

Lance Burn

CEO

David was appointed on 4 September 2015. He has over 30 years of experience in investment management and management consultancy. He is a shareholder in several private companies involved in asset trading platforms, sports and leisure, theatrical production and vinyl pressing.

David Low

Senior Non Executive Director

Sharon was appointed in February 2017. She joined Coral Products as Group Financial Controller in December 2016. She has over 20 years of experience. She previously acted as Financial Controller of James Dewhurst Limited, prior to this she held accounting positions at Pets Choice Limited, Thames Water, Scott Health and Safety Limited and Uniqema Limited. Sharon is a Fellow of the Chartered Institute for Management Accountants.

Sharon Tinsley

FCMA, Finance Director & Company Secretary

Steve was appointed on 18 March 2021. He brings with him a wealth of experience having worked in the packaging industry for more than 30 years. In 2003 he co-founded Interpack Limited, and was a director until its disposal in March 2021. Steve was educated to degree level in polymers and rubber technology.

Steve Barber

Non Executive Director

Paul was appointed in July 2015. He is responsible for directing the business development activities and driving new sales growth by seeking market opportunities or acquisitions. Paul has over 20 years of management and leadership experience in the manufacturing industry. He is also the Chairman of Tatra Rotalac Limited, responsible for developing new and innovative product ranges for blue chip companies, including solutions for fibre optic broadband installations and rail infrastructure.

Paul Freud

Corporate Development Director

Phil was appointed in April 2022. He has a wealth of experience having worked in the plastics industry for over 35 years. He joined Tatra Plastics in 2011 which was acquired by the Group in 2016 and subsequently merged with Rotalac Plastics to form Tatra-Rotalac Ltd. He became the Managing Director of Tatra-Rotalac in 2018 and Manplas/Customised Packaging in 2022.

Philip Allen

Division Managing Director - Rigid Plastics

Ian joined Coral through the acquisition of Film & Foil Solutions Ltd in May 2022. Ian is the Managing Director of Film & Foil for 13 years and continues to lead the business. Prior to this, Ian has spent the majority of his career in the paper and plastic manufacturing industries holding senior, leadership and strategic directorships in large, global organisations in the UK and North America, including St Regis Paper (part of DS Smith PLC) and Mead Westvaco Corporation. Ian is also Managing Director of Alma Products Ltd since 2023.

Ian Hillman

Division Managing Director - Flexible Plastics

Remuneration committee: Joe Grimmond (Chairman) and David Low.

Responsible for the salary and bonus scheme for directors. For further information click here.

Audit Committee: David Low (Chairman) and Sharon Tinsley.

Responsible for the annual audit. For further information click here.

Contact: [email protected]

Directors responsibilities:

The Directors are responsible for the management of the business of the Coral group, setting its strategic direction and establishing its policies. It is the responsibility of the Directors to oversee the financial position of Coral and to monitor its business and affairs on behalf of its Shareholders, to whom the Directors are accountable.

The primary duty of the Directors is to act in the best interests of the company at all times. The Board also addresses issues relating to internal control and Coral’s approach to risk management.

ROLE OF THE non-EXECUTIVE CHAIRMAN:

Joe Grimmond

Overall responsibility for corporate governance and in promoting high standards throughout the Company. As well as leading and chairing the Board, the Executive Chairman’s responsibilities are:-

Demonstrating ethical and unbiased leadership.
Setting and managing the Board agenda.
Ensuring the timely flow of high-quality supporting information.
Ensure The Board determines the nature & extent of risk the company is prepared to embrace in pursuit of its strategy.
Regularly considers rotation, succession planning and the INED composition of The Board.
Ensure The Board has effective decision-making processes and applies rigour & challenge.
Ensure The Boards committees are properly structured with clear terms of reference.
Encouraging all Board members to engage in Board & Committee processes.
Developing productive working relationships with Executive Directors, particularly the CEO.
Consulting with the S.I.D. on all Board matters to ensure compliance to the QCA CG Code.
Support and act on the results of Board Evaluations.
Being aware of and responding to their own development needs.
Support the CEO in crafting effective communications with Stakeholders & Shareholders.

ROLE OF THE CEO:

Lance Burn

Responsible for the overall strategic direction and performance of the group, and they report to the group’s board of directors.

Responsibilities:

Develop and implement the group’s long-term strategy. This includes setting overall goals and objectives, identifying and evaluating strategic opportunities, and making decisions about resource allocation.
Manage the group’s portfolio of businesses. This includes overseeing the performance of each business unit, making decisions about mergers and acquisitions, and divesting non-core businesses.
Build and maintain relationships with key stakeholders. This includes shareholders, customers, suppliers, government officials, and the media.
Ensure that the group is compliant with all applicable laws and regulations. This includes environmental, health and safety, and employment laws.
Represent the group to the outside world. This includes speaking at industry events, giving media interviews, and meeting with government officials.
Develop and maintain a strong corporate culture. This includes fostering a culture of innovation, collaboration, and accountability.

ROLE OF THE FINANCE DIRECTOR AND COMPANY SECRETARY:

Sharon Tinsley

The roles of Finance Director and Company Secretary are combined. The Board acknowledges the QCA guidelines on this matter and consider the joint roles appropriate for the Company’s size.

The Finance Director is responsible for leading the financial governance of the Group, providing financial oversight of the Group, preparing the accounts, monitoring the performance of the Group companies and reporting on financial matters to the Board. Providing financial input on acquisitions.

Direct Division Finance teams to ensure that they are appropriately motivated and developed and so that they carry out their responsibilities to the required standard.
Contribute to the achievement of the company’s business objectives by providing advice and guidance on financial strategy.
Develop and control the company’s annual operating budget to ensure that all financial targets are met and financial and statutory regulations complied with.
Provide financial advice and guidance to the company’s managers and staff to enable them to achieve their objectives.
Oversee the preparation of the company’s financial accounts to ensure that these are presented accurately and on time.
Develop and implement an internal audit programme to ensure that the company complies with financial procedures and regulations.
Develop and maintain all necessary systems, policies and procedures to ensure effective and efficient financial management within the company.
Monitor external contracts and services provided by suppliers to ensure that these are operating effectively and provide the best value to the company.
Carry out all necessary actions to ensure that the company meets its financial and legal obligations.

The Company Secretary is responsible for providing clear and timely information flow to the Board and its Committees and supports the Board on matters of corporate governance and risk.

The Company Secretary has direct access to the Chairman on matters of Corporate Governance.

ROLE OF THE CORPORATE DEVELOPMENT DIRECTOR:

Paul Freud

Responsible in tracking new markets and emerging trends, recommending new products and services, proposing and developing new strategic partnerships.

ROLE OF THE INDEPENDENT NON-EXECUTIVE DIRECTOR:

David Low and Steve Barber

To contribute independent thinking and judgement through the application of their external experience and knowledge, scrutinise the performance of the Executive Directors, provide constructive challenge and ensure that the Company is operating within the governance and risk framework approved by the Board. David Low is the Senior Non-Executive Director.

The four key areas of INED responsibility are,

Strategy
Management performance
The management of risk
Remuneration policy

ROLE OF THE divisional directors:

Phil Allen & Ian Hillman

Direct and control the work and resources of each Division of businesses and ensure the recruitment and retention of the required numbers and types of well-motivated, trained and developed staff to ensure that it achieves its mission and objectives.
Prepare annual business plans and monitor progress against these plans to ensure that the company attains its objectives as cost-effectively and efficiently as possible.
Establish and maintain effective formal and informal links with major customers, relevant government departments and agencies, local authorities, key decision-makers and other stakeholders generally, to exchange information and views and to ensure that the company is providing the appropriate range and quality of services.
Develop and maintain research and development programmes to ensure that the company remains at the forefront of the industry, applies the most cost-effective methods and approaches, provides leading-edge products and services and retains its competitive edge.
Develop and maintain an effective marketing and public relations strategy to promote the products, services and image of the businesses in the wider community.
Represent the Division businesses in negotiations with customers, suppliers, government departments and other key contacts to secure the most effective contract terms.
Develop and maintain Total Quality Management systems throughout the businesses to ensure that the best possible products and services are provided to customers.
Develop, promote and direct the implementation of equal opportunities policies in all aspects of the company’s work.

Board Committees:

Coral has a remuneration committee and an audit committee with formally delegated duties and responsibilities.
The remuneration committee, which comprises the executive directors and is chaired by the Non- executive Chairman, is responsible for determining Coral’s policy for the remuneration of the Directors and senior employees of the overall remuneration policy of the company.
The audit committee, which comprises the non-executive directors and is chaired by the Non-executive Chairman, meets on a regular basis under its terms of reference with the finance director and external auditors to review the financial statements and external financial announcements made by the company. It is responsible for reviewing and monitoring the external auditors independence and objectivity and reviews supplies of any non-audit services provided by the external auditors to ensure that independence and objectivity are not compromised.
A detailed breakdown of the constitution and terms of reference of the Audit and Remuneration Committee can be found here REMUNERATION COMMITTEE and AUDIT COMMITTEE.