With extensive experience in global growth, including in the US and China, Highfield will also serve on the Audit and Risk Committee as Chair Designate and the Nomination Committee. She will take over as Chair of the Audit and Risk Committee following the 2024 AGM. Highfield previously served as CEO of female technology firm Elvie, COO, CFO, and Deputy CEO. She also held positions as Group CFO at Costa Coffee, CFO of Tesco’s Hungary and Slovakia businesses, and more.
Coats Group has faced challenges with industry restocking and tough year-ago comparisons, leading to a decline in half-year revenues and earnings. In H1 2023, organic revenue dropped 19% to $715 million, with a 20% decrease in Apparel organic revenue, which represents over half of the company’s business. Adjusted operating profit also declined by 21% to £84 million. However, management anticipates improved sales in the second half of the year.