Appreciate Group PLC Directorate Change (4020S)
14 July 2022 - 4:00PM
UK Regulatory
TIDMAPP
RNS Number : 4020S
Appreciate Group PLC
14 July 2022
The information contained within this announcement is deemed by
Appreciate Group to constitute inside information as stipulated
under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
14 July 2022
Appreciate Group PLC
("Appreciate Group" or the "Company" or the "Group")
Directorate Change
Appreciate Group, the UK's leading multi-retailer redemption
product provider to corporate and consumer markets, today announces
that Ian O'Doherty, its Chief Executive Officer (CEO) will be
stepping down from his position and the Board to pursue other
interests . Ian will leave the Group at the end of July 2022 and
will remain available to advise the Group until January 2023, with
Guy Parsons, Chair becoming Executive Chair in the interim to
ensure a smooth transition, as the Group commences its search for a
new CEO.
Ian joined the Group on 1 February 2018 and led the Group
through a significant period of business transformation, including
the implementation of its ongoing strategic business plan, and
navigating the disruption of the pandemic . This has included
simplifying and streamlining the business, moving to new offices in
Liverpool, and the disposal of non-core activities. Having
completed this stage of the Group's transformation, now is the
appropriate time for Ian to step down and for new leadership to be
appointed for the next stage of the Group's growth strategy.
The Board is confident that the business will operate normally
under the leadership of the Executive Chair whilst a new CEO is
recruited , and that the Group has strong executive and divisional
management teams, as evidenced by the internal appointment on 6
July 2022 of Talha Ahmed as Interim Chief Financial Officer.
Further updates will be made in due course.
Guy Parsons, Chair of Appreciate Group said:
"I would like to thank Ian for his significant contribution to
the Group's transformation of recent years and successfully
navigating it through the disruption of the pandemic. We look
forward to announcing new executive board appointments in due
course. The business is in good shape and I am confident we will
move purposefully to achieve our long term goals as we progress our
digitally led growth strategy. "
Ian O'Doherty, Chief Executive Officer of Appreciate Group
said:
"It has been a privilege to serve as CEO of Appreciate Group. I
am grateful to all my colleagues for their great efforts to
successfully transform this business and position it for growth. I
have every confidence that they will be equally successful going
forward, and I wish them every good fortune."
Appreciate Group Liberum MHP Communications
plc (NOMAD and broker)
Guy Parsons, Chair Richard Crawley Reg Hoare
Andy Hammerton, Head Jamie Richards Katie Hunt
of Corporate Affairs Charles Hirst
Tel: 0151 653 1700 Tel: 020 3100 2222 Tel: 020 3128 8193
Email: appreciategroup@mhpc.com
Notes to Editors:
Appreciate Group is one of the UK's leading gifting, pre-payment
and engagement companies, and experts at creating joyful
experiences and connecting people to the things in life they enjoy
the most.
Everything Appreciate Group does is focused on creating more joy
in the world, and it is proud to be trusted to help its customers
create moments they can treasure and remember, whether they are
giving, celebrating or rewarding.
Appreciate Group is a financial services business with a wide
portfolio of brands which provide solutions for its consumer and
business customers. Its consumer-facing brands meet a range of
prepayment and gifting needs, while its business products help
corporate customers reward and recognise their employees and
clients.
Appreciate Group is home to many of the country's most-loved
gifting, pre-payment and engagement solutions including Park
Christmas Savings, highstreetvouchers.com and Love2shop, and we are
fast-becoming the home of digital innovation in gifting.
Whether it's saving towards the perfect family Christmas or
celebrating with gift cards and vouchers, we create and supply
products that millions of people trust when it comes to giving and
receiving with family, friends or colleagues.
Park Christmas Savings: As the UK's largest family Christmas
savings club, Park Christmas Savings has helped over 2.7 million
families budget for Christmas on a short-term or year-round
basis.
Love2shop: Love2shop offers gift cards and gift vouchers
available to spend at stores and attractions across the UK. They
are also used through our Love2shop Business Services providing
corporate partners with incentives and rewards for their employees
and clients.
Appreciate Group plc's shares are traded on AIM, a market
operated by the London Stock Exchange.
The Park Prepayments Protection Trust is designed to increase
protection for customers' prepayments. The Trust has three
directors, two of whom are independent of Appreciate. Details of
the trust are set out here:
https://www.getpark.co.uk/CORPORATE/declaration.pdf
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END
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