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Restore plc (AIM: RST), the UK's foremost provider of secure and sustainable business services for data, information, and communications, has revealed major board changes effective 1 January 2027. Charles Skinner, CEO since 2023, will transition to Non-Executive Chair, while current CFO Dan Baker will step up as Chief Executive Officer. This follows an extensive search process including internal and external candidates, with Jamie Hopkins moving from Non-Executive Chair to Senior Independent Director.
Key Points
- Restore plc (AIM: RST) leads the UK market in secure and sustainable data, information, and communications business services.
- Dan Baker, CFO since 2023, appointed CEO effective 1 January 2027.
- Charles Skinner, who led Restore from 2009 to 2019 and returned as CEO in 2023, will become Non-Executive Chair.
- Jamie Hopkins appointed Senior Independent Director; Patrick Butcher remains Non-Executive Director and Audit Committee Chair.
- Board initiates search for Dan Baker's CFO successor and will provide market updates.
- Restore has met ambitious financial targets set in 2023.
Dan Baker Elevated to CEO Following Rigorous Board Search
Restore plc has confirmed that Dan Baker, serving as Chief Financial Officer since 2023, will assume the role of Chief Executive Officer starting 1 January 2027. The appointment comes after a comprehensive search led by the Nomination Committee and supported by an independent executive search firm, evaluating both internal and external candidates. This thorough process underscores the Board's confidence in Baker's financial and operational leadership.
Baker's promotion highlights his proven capability to drive the company's growth strategy. His remarks emphasized pride in the company's achievements and a solid foundation for creating shareholder value. This internal succession aligns with common FTSE and AIM-listed company practices, where CFOs are groomed for CEO roles. Concurrently, the Board has begun searching for Baker's replacement as CFO and will keep the market informed of developments.
Charles Skinner Shifts to Non-Executive Chair After Three Years as CEO
Charles Skinner, who previously led Restore from 2009 to 2019 and returned as CEO in 2023, will transition to Non-Executive Chair effective 1 January 2027. His leadership coincided with setting ambitious financial targets, which have reportedly been achieved. Skinner's move ensures continuity in strategic oversight while enabling new executive leadership. He stated that after refocusing the Group and meeting 2023 targets, now is the appropriate time for leadership transition.
As Non-Executive Chair, Skinner will continue to influence Restore's strategic direction while allowing Baker to manage daily operations. This planned succession reflects the company's dedication to orderly governance and succession planning, critical for AIM-listed entities and their investors.
Jamie Hopkins Appointed Senior Independent Director Amid Governance Changes
Jamie Hopkins, Non-Executive Chair since 2023, will become Senior Independent Director following the board changes, succeeding Patrick Butcher. Butcher will remain as Non-Executive Director and Audit Committee Chair, maintaining oversight of financial controls and audits. This governance structure distributes responsibilities across non-executive roles to ensure robust management oversight.
Hopkins praised Baker's leadership as CFO and expressed confidence in his ability to advance Restore's growth strategy. His experience as Chair equips him well for the Senior Independent Director role, which involves overseeing non-executive matters and supporting executive leadership.
Restore Achieves Ambitious Financial Targets Set in 2023
The announcement highlights Restore's successful delivery on ambitious financial goals established in 2023, coinciding with Skinner's CEO tenure. Although specific targets were not disclosed, their achievement indicates strong recent performance. The timing of leadership changes following these milestones suggests a strategic inflection point prompting governance evolution.
Hopkins noted that under Skinner's leadership, Restore met its 2023 financial targets and continues to perform strongly, signaling sustained growth potential. Demonstrated delivery against targets reassures investors of management's ability to execute strategic plans and create shareholder value, a key factor for AIM-listed companies.
Restore's Market Leadership in Secure Business Services
Restore plc is recognised as the UK's leading provider of secure and sustainable business services focused on data, information, and communications. Operating in sectors increasingly vital due to data protection and cybersecurity demands, Restore's emphasis on security and sustainability aligns with current market trends. This leadership position reflects significant competitive advantages and market share within the UK.
The company's services support digital transformation across UK industries, making it a critical partner for businesses reliant on secure data management. Its dual focus on security and sustainability addresses growing environmental and corporate responsibility expectations from clients and stakeholders.
Robust Governance Underpins Leadership Succession
The Board's announcement underscores that Dan Baker's CEO appointment followed a rigorous process led by the Nomination Committee and aided by an independent executive search firm, considering a broad candidate pool. This approach demonstrates Restore's commitment to transparent and thorough governance practices.
Such structured succession planning aligns with UK corporate governance best practices, particularly important for AIM-listed companies facing heightened investor scrutiny. Benchmarking internal talent against external candidates ensures the selection of the most qualified leader, reinforcing investor confidence in the Board's decisions.
Patrick Butcher Maintains Key Financial Oversight Roles
Patrick Butcher will continue as Non-Executive Director and Audit Committee Chair, having played a pivotal role in managing recent governance transitions. His ongoing leadership in financial oversight ensures stability in internal controls and audit functions during executive changes, vital for maintaining investor trust in an AIM-listed company.
The Audit Committee Chair is essential for monitoring financial reporting and audit processes. Butcher's experience in overseeing Chair and CEO searches highlights his governance expertise, providing reassurance that financial integrity will be upheld throughout the transition.
Search Underway for New CFO with Market Updates to Follow
The Board has initiated the search for Dan Baker's successor as CFO and commits to updating the market as progress occurs. This recruitment follows Baker's promotion to CEO and reflects coordinated management of leadership transitions. Investors should monitor this process closely, as the CFO appointment will significantly impact financial stewardship and operational execution amid Restore's growth strategy.
Strategic Growth Focus Continues Under New Leadership
The Board affirms its dedication to sustained strategic growth and shareholder value creation. Jamie Hopkins expressed enthusiasm for Baker's appointment as CEO, highlighting his suitability to advance Restore's growth agenda. This continuity in strategic direction suggests the company is poised for expansion rather than consolidation.
Skinner's move to Non-Executive Chair supports ongoing value creation, with his commitment to collaborate with Baker. Baker emphasized that "there is more to do" and is determined to lead Restore toward further success. These unified leadership messages signal stability and confidence for investors observing the transition.
This article contains factual information sourced from the Restore plc announcement dated 28 July 2026. It is intended solely for informational purposes and should not be considered investment advice. The announcement qualifies as inside information under Market Abuse Regulation No. 596/2014. Investors are encouraged to conduct independent research and consult professional financial advisors before making investment decisions related to Restore plc or any other securities. Past performance and strategic disclosures do not guarantee future outcomes. Review of the full announcement and professional guidance is recommended to fully understand the implications of these board changes.
