Consumer goods group Ultimate Products has named Simon Harrison, currently CEO of Princes Group, as its next chief executive in a move that analysts have described as 'momentous'. Harrison will become the first external boss in the company's history, succeeding Andrew Gossage, who is stepping down after more than 20 years in executive roles.
Succession Plan Details
Harrison will join Ultimate Products as CEO designate on September 5, 2026, and will officially become chief executive on October 26. Gossage will stand down in October and, after a short sabbatical, will rejoin the board as a non-executive director from May 1, 2027. Simon Showman, who founded the group in 1997 and served as CEO until 2024, will transition from president to a non-executive director role from June 1, 2026.
Analyst Reaction
Analysts Clive Black and Darren Shirley at Shore Capital called the board changes 'momentous' but praised Harrison as a 'great new CEO appointment'. They noted the special corporate culture built by Gossage and Showman over two decades and expressed confidence that Harrison would nurture and build upon that foundation.
Ultimate Products, based in Oldham, describes itself as 'the home of brands' with 12 product divisions, including kitchen equipment specialist Salter and Beldray, which invented the adjustable ironing board. The company's share price rose as much as 10% in morning trading following the announcement.
Leadership Comments
Christine Adshead, chair of Ultimate Products, welcomed Harrison's appointment, highlighting his leadership qualities and commercial experience. She also thanked Gossage and Showman for their extraordinary contributions, noting Gossage's role in evolving the business and Showman's entrepreneurial vision in building the company from a founder-led sourcing business into a multi-brand homewares group.
Harrison expressed delight at taking on the CEO role, citing the strong platform built by Gossage and Showman and the significant potential of the business. Gossage said he was proud of the diversified business built over two decades and felt the time was right to step back, while Showman expressed excitement about the next phase and welcomed Harrison as the first external CEO.
Harrison's Background
Harrison joined Princes Group as chief commercial officer in 2021 and became CEO in 2024, overseeing its takeover by Newlat and listing on the Stock Exchange. Prior to Princes, he spent nearly 20 years at Coca-Cola European Partners.
