BUSINESS: Suppliers Inspecs Group Names Richard Peck Group CEO, Founder Robin Totterman Moves to Executive Chair Role; Two New Non-Executive Directors Join Board By Staff Friday, December 2, 2022 12:30 AM BATH, England—Inspecs Group PLC (LON:SPEC), a global designer, manufacturer and distributor of eyewear frames and prescription lenses, announced yesterday the appointment of two non-executive directors to its board as well as naming Richard Peck, who had served on the Inspecs board as a non-executive director since 2020, to the role of group CEO. With that move, Inspecs Group founder and CEO Robin Totterman moves into the new role of executive chair, the company said. The changes are effective immediately.Peck brings over 35 years’ experience in the optical industry, having previously been managing director of Luxottica Retail Northern Europe and managing director of David Clulow opticians. Peck and Totterman will work closely together, along with the board, to develop the company’s global position as a leading player in eyewear solutions through its vertically-integrated frame and lens capabilities. The company's two new non-executive directors are Shaun Smith and Hugo Adams, who will also assist in the delivery of the Group's strategic goals, the announcement said. Smith has extensive experience having previously held CFO roles with Norcros PLC and Aga Rangemaster Group PLC. In his role at Aga Rangemaster Group PLC, he helped oversee the transformation of the business into an international brand-led manufacturer and retail group. Smith has served as a non-executive director on public company boards since 2016 including as an Audit Committee chair. He is currently a non-executive director of Epwin Group PLC. On appointment, Shaun will join the Audit & Risk and Remuneration & Nomination Committees for Inspecs. Adams has more than 25 years’ experience working for some of the biggest and best-known, global consumer brands including The Body Shop and running marketing and international expansion at Dyson. During nine years at Marks and Spencer Group PLC he managed businesses across Europe and the Middle East, as well as being chief of staff to the CEO and subsequently property director. Adams served on the Executive Board at Superdry PLC, responsible for marketing and business development and most recently as CEO of Start-Rite Shoes. Hugo will serve on the Audit & Risk, Remuneration and Nomination and the newly formed Environmental, Social and Governance committee on appointment. Totterman said, "I am delighted to welcome Shaun and Hugo to the board of Inspecs. Shaun has extensive PLC experience having held a variety of finance roles in international manufacturing and retail groups, whilst Hugo brings significant experience in the retail sector and a proven track record of delivering growth for purpose-led consumer brands." He added, "Today’s appointments come at an important time for the Group as Richard simultaneously steps into the role of Group CEO, and I assume the role of executive chair. The board is delighted that Richard has become CEO with his extensive business development skills gained at Luxottica and is confident he is the right person to lead Inspecs through the next stage of its growth.” Inspecs produces a broad range of frames and lenses, either branded (under license or under the Group's own proprietary brands) or OEM, including private label on behalf of retail customers as well as unbranded. The Group has completed several significant acquisitions since its IPO in February 2020. In December 2020, Inspecs acquired Eschenbach, a leading global eyewear supplier, headquartered in Nuremberg, Germany, which includes the American company Tura. This followed the acquisition of lens maker Norville in July 2020, whereby Inspecs combined two British heritage brands, Savile Row frame maker, and Norville lens maker, further enhancing its vertically-integrated business model. In December 2021 the Group acquired Ego Eyewear, a design and licensing company which uses third-party eyewear manufacturers to produce premium fashion brands, and BoDe, a distributor of optical frames and sunglasses principally to the German and neighboring markets. Inspecs customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 75,000 points of sale.