Reach4Entertainment Enterprises PLC Directorate Change (0145J)
23 June 2017 - 7:45PM
UK Regulatory
TIDMR4E
RNS Number : 0145J
Reach4Entertainment Enterprises PLC
23 June 2017
Prior to publication, certain information contained within this
announcement was deemed to constitute inside information for the
purposes of Article 7 of EU Regulation 596/2014 (MAR). Upon
publication of this announcement, this information is now
considered to be in the public domain.
23 June 2017
reach4entertainment enterprises plc
('r4e', 'the Company' or 'the Group')
Directorate change
r4e, the transatlantic media and entertainment marketing
company, announces that David Stoller, the Company's Executive
Chairman, has today informed the board of the Company (the "Board")
of his decision to retire as a director and Executive Chairman of
the Company with effect from 30 September 2017.
Mr Stoller will remain as the Company's Executive Chairman and
will continue to fulfil his executive role until 30 September 2017.
During this period, the Board will be working to appoint a Group
Chief Executive and discussions with a potential candidate to
fulfil the role have commenced. Further updates will be made in due
course.
Following Mr Stoller ceasing to be a director and Executive
Chairman of the Company, he will continue to assist the Company and
will become Non-Executive Chairman of Spotco Inc, the Company's New
York based agency.
In accordance with good corporate governance practice, it has
been the Board's intention for some time to separate the roles of
Chairman and Chief Executive and following Mr Stoller ceasing to be
a director the Company will also seek to appoint a new
Non-Executive Chairman.
Marcus Yeoman, Senior Independent Director of the Company,
commented:
"The Board would like to thank David for all his work at r4e
over the last 7 years. David was the driving force behind the
restructuring of the Company's balance sheet over several years,
the recruitment of the key leadership team at each of the Company's
main agencies, including Germany, and the vision and direction of
the Company. He leaves the Company in a much better condition than
when he took over and I am delighted that he will continue to be
involved in the Company as Non-Executive Chairman of Spotco.
"We are in early discussions with a potential new Group Chief
Executive and the Board look forward to announcing an appointment
shortly".
Enquiries:
reach4entertainment enterprises
plc
+44 (0) 20 7968
David Stoller, Executive Chairman 1655
Allenby Capital (Nominated Adviser +44 (0) 20 3328
and Broker) 5656
Jeremy Porter/James Reeve (Corporate
Finance)
Katrina Perez/Kelly Gardiner
Novella Communications (Financial +44 (0) 20 3151
PR) 7008
Tim Robertson
Toby Andrews
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOADMGZVLFZGNZG
(END) Dow Jones Newswires
June 23, 2017 05:45 ET (09:45 GMT)
Reach4entertainment Ente... (LSE:R4E)
Historical Stock Chart
From Apr 2024 to May 2024
Reach4entertainment Ente... (LSE:R4E)
Historical Stock Chart
From May 2023 to May 2024