Coral Products PLC announced that Joseph Grimmond has informed the Board of his intention to step down as Executive Chairman and become Non-Executive Chairman with effect from 1 January 2024. At the same time, the Company announced the appointment of Lance Burn as a Director of the Company with effect from 2 January 2024Lance has for the past 14 years worked within IG Design Group Plc and has been an Executive Board Director of the company since 2012. Between 2009 and 2019, Lance was CEO of UK and Asia and from 2020 CEO of the IG Design Group International businesses.

Most recently living in North America, Lance has acted as Interim Group COO leading the "critical and accelerated" business and organizational transformation of the loss-making "Americas" division, delivering a fiscal year 2023 year on year $14.6 million adjusted operating profit improvement. Previously, Lance has successfully run multi-site manufacturing businesses across diverse verticals and has extensive international experience comprising EMEA, India and Asia, specifically China.