Brain May Is All Set To Leave Bunzl’s Group By February 2020

  • May 13, 2019 BST
  • Team Kalkine
Brain May Is All Set To Leave Bunzl’s Group By February 2020

Bunzl Plc is a specialist distribution company engaged in the distribution of non-food consumable products to markets such as grocery, foodservice, cleaning and hygiene, healthcare, non-food retail and safety. The company offers its products with a unique business concept to its customers.

On May 10, 2019, the specialist international distribution and service group has announced that after working for 25 years with the company and 13 years as the Group Finance Director, Mr Brian May has shown his intention to step down from the board of the company. He will be retired from the board on December 31, 2019, and will leave the company on February 28, 2020.

Richard Howes will be the successor of Brian and he will join the group on September 01, 2019 and will take charge of Chief Financial Officer on January 01, 2020.

Richard is currently working with Inchcape Plc as the Chief Financial Officer. Inchcape Inc is a leading independent distributor and retailer of multi-brand automotive.

Commenting on management change, the CEO of Bunzl Plc, Frank van Zanten, said that, on behalf of the Bunzl’s board I would like express gratitude to Brian for his tremendous contribution in the group since he joined the company in 1993. His knowledge and competence have been significantly valuable for the group in supporting us to grow and develop into the business that we are today.

Share Price Commentary

Daily Price Chart (as on May 13, 2019), before the market close. Source: Thomson Reuters

At the time of writing, (as on May 13, 2019, at 04:36 PM GMT), shares of Bunzl Plc were quoting 19 points or 0.89 per cent lower at GBX 2,106 against the previous closing price. Stock’s 52 weeks high and low is GBX 2,554.60/GBX 2,100.  On a yearly basis, the stock has delivered a negative price return of 5.2 per cent, and on a year-to-date basis, the stock was down by 10.30 per cent.

At the current trading levels, the stock was quoting considerably below the 30-day, 60-day and 200-day simple moving average price levels, a technical indicator which indicates that the stock could fall off further from the current trading levels.

From the volume standpoint, stock’s 5-day daily average volume traded on the LSE was around 0.99 per cent lower than the 30-day daily average volume traded on the stock exchange. The company’s stock beta was 0.77, reflecting lower volatility as compared to the benchmark index.

The outstanding market capitalization of the company stood at around £7.07 bn, which ranks the group among the large-cap category stock listed on the London Stock Exchange. The dividend yield of the company at the current market price stood at 2.36 per cent.

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