Jonathon Wagstaff (pictured) has resigned from his position as chief executive of Alno UK after nine years with the company.
Wagstaff’s resignation comes just days after Alno UK’s parent company, Germany-based Alno AG, announced that it had put itself into administration.
As a result of its insolvency, the company revealed that 350 jobs would be cut, with 250 of those being in Germany. Alno has 2,100 employees worldwide.
A spokesperson for Alno UK had previously assured dealers that Alno AG’s insolvency would not affect the UK arm of the business.
However, Dr Michael Frühmorgen, a partner at Heussen law firm in Germany, has since warned retailers to assess the full impact of the company’s slide into administration or risk serious damage to their businesses.
Wagstaff had previously held the role of UK managing director for six years, but in September 2015 Adinde Blacquière took over and Wagstaff was appointed as Alno International chief executive.
But in February this year, Blacquière announced that she was stepping down from the role. This led to a restructuring of the company’s board of directors, with Alno international CEO Wagstaff resuming overall control of Alno UK.
Speaking about his resignation, Wagstaff said: “After nine years with Alno UK, this was not an impulsive decision and has been my long-term plan for a period of time. I will be with Alno UK in a director capacity until 31st July 2017, and in the business until the end of September 2017. The real assets in any business are the people and whilst I am sad to leave, I am confident that the exceptional management team at Alno UK will take it on to even greater things.”
Stuart Welburn, who previously held the position of Alno UK finance director and, more recently, Alno contracts managing director, has been appointed as managing director of Alno UK. Welburn will also take on the role of Alno UK board chairman.
Alno UK has also announced that it is in the process of appointing Barbaros Arslan and Christian Brennan, from the Prevent Group, to its UK board. It is envisaged that they will take up their appointments over the next week.
Speaking of his appointment and Alno AG’s insolvency, Welburn said: “We are still operating business as usual with production in Germany continuing. The officers appointed by the German courts as part of Alno AG’s self-appointed insolvency are making progress towards an Alno AG restructure and we are positive that business will be sustained. I look forward to being a part of Alno UK’s future.”
Meanwhile, Pino Küchen, the entry-level subsidiary of Alno AG, has entered insolvency after negotiations with creditors failed to reach any agreement.