20 July 2024, 18:11
By Furniture News Nov 07, 2022

New group CFO at Panaz parent

Panaz Holdings has announced the promotion of Panaz Ltd’s former FD, Nadeem Memon, who is now the group’s new CFO, tasked with driving consistent growth throughout the residential and commercial sectors.

Nadeem will be responsible for the growing number of companies under Panaz Holdings, which includes one of Europe’s leading contract fabric suppliers, Panaz, its American subsidiary, Panaz USA, luxury interior textiles company, Chase Erwin, and interior blinds manufacturer, ESF.

As part of his new role, Nadeem will be responsible for "leading Panaz Holding’s investment strategy to achieve sustainable growth throughout core industries by realigning the brands with new sectors, while simultaneously securing continued organic growth with existing client bases across each product portfolio".

Nadeem will also drive Panaz Holding’s carbon-neutral ambitions to ensure each business is sustainable for future generations. This includes the procurement of recycled materials, ensuring the recyclability of final products and implementing environmentally efficient processes, including the recent installation of solar panels at Panaz’s UK headquarters.

Nadeem says: “Over the last 25 years, I have been committed to working with all areas of Panaz Holdings to ensure as a team we consistently add value. The continuous investment in our workforce and new technologies ensures we have the right people in place to implement the right plans to achieve our long-term goals.

“When I joined Panaz it was a relatively small business. However, this gave me the opportunity to grow alongside it. Today, Panaz is a multi-million-pound entity, with five businesses under the group umbrella, and I feel a real sense of privilege to have been a part of that journey.”

Nadeem began his career at Panaz in the 1990s as an apprentice assistant accountant. Over the next decade, he worked across all areas of the business, including supply chain, operations and HR. This included being appointed interim GM for Panaz’s American operations, where he was responsible for relocating the US headquarters from Irvine, California, to Raleigh, North Carolina.

Tony Attard, chairman of Panaz Holdings, says: “Over the last 25 years, Nadeem has been integral in our continued growth and success, and I would like to thank him for his longstanding commitment.

“His promotion to group CFO of Panaz Holdings forms part of our dedicated growth strategy as we continue to invest in key infrastructure and technologies to improve the efficiency and sustainability of our operations to ensure we not only deliver the highest standards of product and service but fulfil our carbon-neutral ambitions.”

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