LONDON (ShareCast) - (Sharecast News) - Specialist audio visual and document solutions distributor Midwich announced on Friday that, as part of a review of succession plans for the role of group finance director, Anthony 'Tony' Bailey would step down from that role and from the board on 30 June.
The AIM-traded firm said Bailey requested that the role of group finance director be considered as part of the company's succession process, and having helped steer the group through its successful IPO in 2016, he said he now wished to focus on other interests.

Midwich's board announced that Stephen Lamb had been appointed to succeed Bailey as group FD, and would join the board on 30 July.

It said Lamb is a qualified Chartered Accountant, and was currently senior vice-president and chief financial officer of the international division of Iron Mountain, a US-listed global business dedicated to storing, protecting and managing information and assets.

Whilst at Iron Mountain, Lamb had a "strong" commercial finance role supporting the profitable and cash-generative development of the international business, the Midwich board said.

He led an international finance team, developed back office systems and processes and overseen a number of international acquisitions.

Lamb also held previous finance roles at Regus and Experian.

"On behalf of the board, I would like to take this opportunity to thank Tony for the contribution he has made to Midwich's success over the last six years," said Midwich managing director Stephen Fenby.

"Tony helped prepare the group for its IPO in 2016 and its subsequent establishment as a public company.

"I am delighted that Stephen has agreed to join the group and I am confident that his recent experience with growing and managing international businesses will be of great benefit to Midwich as we continue to expand our footprint across the globe."

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