Park Group PLC Appointment of CEO (5005W)
15 November 2017 - 6:01PM
UK Regulatory
TIDMPKG
RNS Number : 5005W
Park Group PLC
15 November 2017
15 November 2017
Park Group plc
("Park" the "Company" or the "Group")
Appointment of CEO
Further to the announcement within its results statement of 13
June 2017 of Chris Houghton's intention to retire, Park, the UK's
leading multi-retailer, multi-channel gift voucher and prepaid gift
card provider, is pleased to announce the appointment of Mr. John
Sullivan (Ian) O'Doherty to succeed Mr. Houghton as Chief Executive
Officer of Park.
Mr. O'Doherty, aged 55, will join the Company on 2 January 2018,
as CEO designate and will be appointed as CEO and to the Board
following approval from the Financial Conduct Authority (FCA),
which is expected will be within the first quarter of 2018.
Current CEO, Chris Houghton will leave the Company following the
announcement of the Company's full year results to 31 March 2018,
in June 2018, ensuring an orderly handover and smooth
transition.
Mr. O'Doherty has a strong background in financial services,
specifically in banking, payments and card services, having worked
at MBNA Ltd for 26 years, most recently as Chairman and CEO of MBNA
Ltd in the UK, a position he held from 2008 to 2017. In this role,
he was responsible for the re-engineering of MBNA's digital
capabilities and reorganised the business, leading it effectively
through the 2008 financial crisis to its ultimate sale to Lloyds
Banking Group for GBP1.9 billion in June 2017. During his
leadership, MBNA was recognised amongst the 'Top 20 Great Places to
Work in the UK' in 2016 and 2017, and named 'Consumer Moneyfacts
Credit Card Provider of the Year' for four consecutive years to
2017.
From 2015 to 2017, Mr. O'Doherty was Deputy Chair of the UK
Cards Association, having been a Board member since 2008, and he
was a member of the Interim Main Board of UK Finance (New Trade
Association) from 2016 to 2017.
He has an MBA from Carroll Graduate School of Management, Boston
College, USA, and is a fellow of the Institute of Bankers in
Ireland. He is a Non-Executive Director of Chester Race Company Ltd
and is a Governor on the Board of the King's School, Chester.
Laura Carstensen, Chairman of Park, said: "We are extremely
pleased to welcome someone of Ian's experience and talent as CEO of
Park and are excited to be working with him. There will be a
comprehensive handover period which will ensure a smooth transition
for the business. We are confident that we have found the right
person to lead the business in its next era of development and
maintain its momentum of consistent growth.
We would also like to thank Chris Houghton for his outstanding
contribution to Park over many years. Chris has overseen the
development of our own pre-paid platform flexecash(R), our
corporate rewards and recognition business and our MasterCard
capabilities whilst also expanding our Christmas Savings business.
We wish him every success for the future."
Mr. Ian O'Doherty, Park's incoming CEO, said: "Thanks to the
efforts of Park's management team and all its dedicated staff, I am
joining a Company in excellent health, with a rich history and
strong prospects for further growth and success. I look forward to
working with the team to continue Park's proud tradition in
customer service and innovation."
Additional information
Current directorships Previous directorships
Chester Race Company Limited MBNA Limited
LOANS.CO.UK
FIA Jersey Holdings Limited
FIA UK Funding Limited
Marlin House Holdings
Limited
NewTA Limited
The UK Cards Association
Limited
MBNA Ireland Limited
Save as disclosed above, there are no further details to be
disclosed pursuant to Schedule Two (g) of the AIM Rules for
Companies. At the date of this announcement, Mr. O'Doherty does not
hold any ordinary shares in the Company.
For further information please contact:
Park Group plc Arden Partners Tavistock
plc
Chris Houghton Steve Douglas Andrew Dunn
Martin Stewart Benjamin Cryer Jeremy Carey
Sophie Praill
Tel: 0151 653 Tel: 020 7614 Tel: 020 7920
1700 5920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
END
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