Electrocomponents plc (LSE: ECM), the global distributor for engineers, received the Turnaround of the Year Award at the national PLC Awards 2016 gala dinner and ceremony, which took place last night at The Grosvenor Hotel in London.
The Turnaround of the Year Award is judged by a panel of leading institutional fund managers and investment brokers. The category encompasses companies that have completed the most innovative turnaround of the year in a way likely to save or substantially improve the business and offer the prospect of the creation or enhancement of substantial shareholder value in the future.
Electrocomponents embarked on its turnaround programme with the aim of improving the customer and supplier experience, driving an accountable and high-performance culture and striving for operational excellence through simplification and operating for less.
Lindsley Ruth, CEO of Electrocomponents, said: “We’re absolutely thrilled to win this prestigious award. The journey to transform our business has already delivered improved results for our shareholders, customers and suppliers. We have accelerated growth and improved profitability and this award is testament to the commitment, hard work and vision of so many people across our business. We have taken a major step forward but we will not rest on our laurels and are excited about the significant potential for further improvement and growth.”
The PLC Awards is now in its 31st year, having been held every year since its inception in 1987. The event, which has become firmly established as “the” City event of the year, is held annually, every March, at The Grosvenor Hotel. The PLC Awards recognise success and achievement amongst publicly quoted companies in the UK.
For more information visit: www.electrocomponents.com
