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LONDON - Facilities by ADF plc, a provider of production facilities to the UK film and high-end television industry, announced Wednesday that Chief Executive Officer Marsden Proctor has stepped down as a director and left the company with immediate effect.
According to the company statement, Non-executive Chairman Russell Down has been appointed Executive Chairman on an interim basis. Down will return to his non-executive role once a permanent replacement is found and following a handover period.
The company has initiated a recruitment process to find a permanent CEO replacement.
In its announcement, Facilities by ADF referenced its June 2 statement that trading for the financial year ending December 31, 2025, remains in line with market expectations. The company noted that while the industry environment continues to be challenging with reduced project lead times, activity levels are expected to be weighted toward the second half of the year.
The company stated it still anticipates being cash generative in the 2025 financial year.
The information was disclosed in accordance with the company’s obligations under Article 17 of the UK Market Abuse Regulation.
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