Gateley (Holdings) PLC CEO Succession Plan (0097F)
10 July 2019 - 4:00PM
UK Regulatory
TIDMGTLY
RNS Number : 0097F
Gateley (Holdings) PLC
10 July 2019
10 July 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN
ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR"). UPON
THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN
GATELEY (HOLDINGS) PLC
("Gateley", the "group" or the "Company")
AIM: GTLY
CEO SUCCESSION PLAN
The Board of Gateley, the legal and professional services group,
is pleased to announce that Rod Waldie, who is currently the Senior
Office Partner of the Manchester office, as well as a key member of
the group's management board and head of the national property
team, has been chosen to succeed Michael Ward as the new Chief
Executive Officer ("CEO"), when Michael stands down from the role
on 30 April 2020. After standing down, Michael will remain a main
board director and will be responsible for the non-legal businesses
within the group. He will also retain a significant shareholding in
Gateley for the foreseeable future.
Succession planning is an important part of Gateley's corporate
governance and is key to ensuring that the prosperity and
collaborative culture of the business are maintained in the long
term. This early addressing and announcement of the group's
succession plans has been undertaken to enable a managed and
orderly handover to take place. As part of its deliberations, the
Board conducted a thorough review of the attributes required of a
new CEO and agreed that an internal appointment was the best way to
ensure the continuation of the group's sustainable growth strategy,
as well as preserving its culture.
Rod has been a key member of the group's management board since
joining the business via the acquisition of the Manchester office
of Halliwells LLP in 2010. Rod is the Senior Office Partner of the
Manchester office, leads the group's national property team and has
been involved in the successful integration of a number of
Gateley's post IPO acquisitions including Gateley Capitus, Gateley
Hamer and GCL Solicitors.
Rod will shadow Michael on all CEO related activities in the run
up to his official appointment and will join the Board as CEO on 1
May 2020. He will be introduced to investors at the group's final
results roadshow in July 2019 and will attend the Company's AGM on
19 September 2019 at which all attendees will have the opportunity
to meet him.
Rod's appointment remains subject to the completion of
regulatory due diligence checks.
Nigel Payne, Non-executive Chairman of Gateley, said:
"We are delighted that Rod has agreed to lead the business, when
Michael stands down as CEO in April next year. We are also
delighted that after standing down, Michael's commitment to the
group will continue both as an executive director and as a
significant shareholder.
"Our choice of an internal appointment to succeed Michael and
our early addressing of succession allow for a smooth transition to
a highly successful and respected colleague, who already knows the
business, understands our collaborative culture, has excellent
client relationships and is committed to the group's growth
strategy."
Enquiries:
Gateley (Holdings) Plc
Neil Smith, Finance Director Tel: +44 (0) 121 234 0196
Nick Smith, Acquisitions Director and Head Tel +44 (0) 20 7653 1665
of Investor Relations
Cara Zachariou, Head of Corporate Communications Tel +44 (0) 121 234 0074
Mob: +44 (0) 7703 684
946
finnCap - Nominated adviser and broker Tel +44 (0) 20 7220 0575
Matt Goode / James Thompson (Corporate Finance)
Andrew Burdis (ECM)
N+1 Singer - Joint broker Tel +44 (0) 20 7496 3000
Richard Lindley / Peter Steel (Corporate
Finance)
Rachel Hayes (Corporate Broking)
Belvedere Communications Limited - Financial
PR
Cat Valentine (cvalentine@belvederepr.com) Mob: +44 (0) 7715 769
078
Llew Angus (langus@belvederepr.com) Mob: +44 (0) 7407 023
147
Keeley Clarke (kclarke@belvederepr.com) Mob: +44 (0) 7967 816
525
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END
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