Coats Group has announced that its chief financial officer (CFO), Jackie Callaway, is to step down from the role.

Callaway has mutually agreed with the board to step away at the conclusion of the group’s AGM on 21 May, before assisting with an orderly transition until 30 June.

Coats, a FTSE 250 listed thread manufacturer for apparel and footwear markets, has also announced that Callaway’s replacement will be Hannah Nichols.

The group expects Nichols to join as CFO designate on 24 April before assuming full CFO responsibilities on 21 May at the conclusion of the AGM. Nichols will join from Hill & Smith where she has been CFO since 2019. Prior to this, she worked at BT Group and has over 20 years of experience in a range of finance roles.

Commenting on her departure from Hill & Smith, Nichols said: “I have greatly enjoyed my time at Hill & Smith and am proud of the progress the business has made over the last five years. I believe that the group is well placed to deliver on the next stage of its strategic growth plan, and I look forward to following its continued success.”

Chair of Coats, David Gosnell, commented: “We are delighted to welcome Hannah to the team. Having run a thorough search process, we are excited to have found a great candidate who has the experience and skills to deliver the next part of the Coats journey.”

Gosnell added: “I would like to thank Jackie for her service and outstanding contribution over the last four and a half years. She has played an important role in a number of significant operational and strategic developments for the group, and we wish her all the very best for the future. We are sad as a board to see her leave.”

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