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[March 2008]
Lecico Egypt Announces Changes in Key Staff Positions
Lecico Egypt (Alexandria, Egypt) has announced four new appointments to head the company’s Operations, French subsidiary, UK sales and its principal sanitaryware factory in Borg El-Arab, Alexandria. The company also announced that its Group Financial Officer is leaving the company.
Lecico has added a new senior management role, Chief Operating Officer, and has appointed Seifi Hasanali to this post. The position is responsible for managing and developing Lecico’s logistics systems and improving the company’s supply chain management. Seifi Hasanali has joined Lecico after spending the last 18 years with Alfa-Laval managing distribution centres and manufacturing sites in Canada and the United States. Seifi studied Mechanical Engineering at the University of Birmingham and worked for the last 25 years in manufacturing and logistics in Tanzania, Canada and the USA.
Lecico France, the company’s subsidiary that includes the Sarreguemines brand, factory and Lecico-branded sales operations in France, will be headed by Rob Van Brug. Rob will be tasked with developing both brands and integrating operations between France and the rest of the group. Rob has joined Lecico after nine years with Koninklijke Sphinx BV, Holland’s leading sanitaryware brand and manufacturer. Rob held a number of positions within Sphinx, most recently serving as MD of the business from 2001 onwards. He is a Business School graduate from Nijenrode Breukelen in the Netherlands.
Lecico Plc, the company’s UK trading subsidiary, has recently hired Allan Nutter as Sales Director. As Sales Director, Allan Nutter will report to Thomas Mankert, Lecico Plc’s MD, and will be responsible for continuing and developing the company’s sales strategy in the UK and managing its team of 12 sales representatives. He has joined Lecico after spending the last four years as Commercial Director of Broughton Grangrove & Galley Matrix, managing a £58 million turnover bathroom and plumbing business. Allan has 30 years in the kitchen and bathroom industry with senior level/director roles for the last 15 years. He has a degree from Burnley College and has been through three levels of management school staging at the Darden Business School, University of Virginia.
Meanwhile, the management of Lecico’s Borg 1&2 sanitaryware factory is being taken over by Engineer Elie Youssef, who has been the Plant Manager of Lecico Lebanon for the past four years. Elie has worked for Lecico Lebanon for the past 12 years and holds a DESS from St Joseph’s University in Lebanon.
Colin Sykes, Lecico’s Chief Financial Officer, is leaving the company after just over two years of service. Lecico is currently in the middle of its search for a replacement and – in the interim – the CFO’s duties will be covered by Mohamed Hassan, Lecico Egypt’s Financial Manager, with the support of Elie Baroudi, the company’s MD.
Gilbert Gargour, Chairman and CEO of Lecico Egypt, commenting on these new appointments, said: “While I am sorry to see Colin Sykes leave the company, I am very excited about these new hires. Lecico is continuing to add depth to its management structure and is developing and maturing as a company. I am sure that these new hires will help us take another step forward in improving our business and the returns it generates”.
Lecico’s revenue for 2007 was up 38% at LE 989.5 million driven by sanitaryware sales. Operating profit (EBIT) was up 33% at LE 156.9 million (margin down 0.6% at 15.9%). Net profit was up 35% at LE 107.0 million (net margin down 0.2% at 10.8%).
“It is my great pleasure to report a strong performance in 2007. It has been particularly satisfying to see the work invested over the past few years in growing capacity and market footprint finally translate into profitability, especially given the cost pressures in the year,” commented Gilbert Gargour. “This is only the beginning of these returns, with Lecico only making our first small sales in a number of new markets and with a number of new customers. Our capacity expansion is also still in mid-rollout, although most of the investment is now behind us.”
ENDS