Inspecs executive chair to step down to director role, launches review of ‘composition’

Eyewear distributor and manufacturer Inspecs Group has announced that Robin Totterman, its executive chair of the board, is due to step down from his position upon the conclusion of its forthcoming annual general meeting in 2025.

Totterman, who Inspecs said remained “critical to the future success” of the business, will continue to perform his day-to-day executive duties while remaining as director of the company.

In a statement, Totterman said: "This change to my role reflects a continuing commitment to the evolution of the group and its governance structures since it listed in 2020. I remain fully committed to Inspecs and will continue to contribute fully to its future success."

The move comes as part of wider efforts launched by Inspecs to “start a process of enhancing its governance structures”, a regulatory filing noted.

The firm added: “The board has also determined that it will undertake a full review of its balance and composition. In undertaking that review, the board will take full account of general accepted principles of good corporate governance.”

For the second half of the year ending 31 December 2024, Inspecs reported year-on-year growth “signalling overall positive momentum”, despite Q4 sales “not having been as strong as anticipated”.

The company noted that it had experienced slower recovery among European markets, meaning that it was now anticipating revenue for the year to amount to 197 million pounds, while its EBITDA is forecast to be in the range of 17.4 million to 17.9 million pounds.