4imprint (PPAI 107200, Platinum) – ranked the No. 1 distributor in the 2024 PPAI 100 – has announced that David Seekings, chief financial officer at the Oshkosh, Wisconsin-based firm, is retiring.

Seekings, who joined the 4imprint Group in 1996 and was appointed CFO in 2015, plans to retire from his role and from the board of directors before the end of 2025, the company announced during its annual general meeting on Wednesday.

“David has served 4imprint Group plc loyally since joining in 1996,” says 4imprint CEO Kevin Lyons-Tarr. “Over the years he has played an important role in shaping many different aspects of the development of the company, in particular driving the growth of the direct marketing business. I see every day how much he cares about the company and all of its stakeholders, so it comes as no surprise to me that he is allowing ample time and making a full commitment to a successful transition.”

Seekings will “actively participate” in a recruitment process to determine his successor, the company added.

“In due course, I will have plenty of time to reflect on my 27-year career with the company and the amazing people that I have had the privilege to work with along the way,” Seekings says. “Right now, however, I remain completely focused on the business and doing all I can to ensure a smooth succession and to help 4imprint to continue its success for many years to come.”

Revenue Growth

In addition to Seekings’ retirement announcement, 4imprint also reported during the meeting that it achieved 6% revenue growth in the first four months of 2024 compared to the same period in 2023.

Paul Moody, chairman of 4imprint, says the increase was driven by a 4% rise in order intake and a 2% increase in average order values.

RELATED: 4imprint Repeats As Top Distributor In PPAI 100 Rankings

“Gross margins have remained strong, and the reshaped marketing mix has demonstrated the efficiency and flexibility that we expected,” Moody says. “As a result of these factors, the board expects a financial performance for the year within the current range of analysts' forecasts. The board remains confident in the group's ability to blend good near-term financial results with attractive prospects for significant further organic growth over the medium term.”

• In 2023, 4imprint extended its lead over all other promo distributors after posting earnings just north of $1.3 billion – both a company and industry record.
• The e-commerce giant’s digital-first approach and unprecedented advertising campaign has paid dividends: 4imprint received more than two million total orders in 2023, up 12% from 2022, and acquired 311,000 new customers, up 1.3% from 2022.

4imprint says it will announce its half-year results for the 26 weeks ending June 29 on August 7.

Written by: John Corrigan

Published with Permission from PPAI