Daily Mail & General Trust PLC Directorate Change (9574T)
12 January 2017 - 6:00PM
UK Regulatory
TIDMDMGT
RNS Number : 9574T
Daily Mail & General Trust PLC
12 January 2017
12 January 2017
Daily Mail and General Trust plc ('DMGT')
Directorate Change
Suresh Kavan to step down as Director
DMGT announces that Suresh Kavan, CEO, dmg information and
Chairman of dmg events and RMS, has informed the Board that he
plans to step down from these roles with effect from 31 March 2017.
He will step down from the DMGT Board with immediate effect.
Lord Rothermere commented: "Suresh has been instrumental in
driving forward our B2B agenda in the eight years that he has been
with the Group. Following Suresh signalling his desire to take on
new challenges outside the Group, the Strategic Review announced on
1 December 2016, and the Euromoney transaction announced on 8
December 2016, the time is now right for this change. I would like
to thank Suresh for his substantial contribution to reshaping the
Group as a B2B information and technology company, delivering what
we set out to do and more, and wish him every success in the
future."
Suresh Kavan commented: "The dmg information and events
businesses have delivered consistent and significant revenue and
profit growth, including almost doubling revenues to over GBP600
million in the past five years. The businesses have reached a scale
where they can operate as standalone businesses, have expanded into
adjacent markets and are well positioned for the future and I am
proud of what we have achieved."
Consistent with the simplification programme presented as part
of DMGT's strategy on 1 December 2016, the DMGT B2B operating
business CEOs that previously reported to Suresh Kavan will now
report directly to the DMGT CEO, Paul Zwillenberg. Suresh Kavan
will remain a director of Xceligent Inc. and will provide
consultancy services to DMGT for a period of 12 months from 1 April
2017.
For further information
For analyst and institutional enquiries:
Adam Webster, Head of Management Information
and Investor Relations, DMGT +44 20 3615 2903
For media enquiries:
Kim Fletcher / Simone Selzer, Brunswick Group LLP +44 20 7404 5959
About DMGT
DMGT manages a balanced multinational portfolio of
entrepreneurial companies, with total revenues of almost GBP2bn,
that provide a diverse range of businesses and consumers with
compelling information, analysis, insight, news and
entertainment.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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