TIDMRWS
RNS Number : 0893B
RWS Holdings PLC
08 June 2021
8 June 2021
RWS Holdings plc
Board Changes
RWS Holdings plc ("RWS", "the Group"), the world's leading
provider of technology-enabled language, content management and
intellectual property services, announces today that after nearly
nine years with the Group, Richard Thompson, CEO, will step down
from his current role, and position on the Board, so as to pursue
other interests.
Following an extensive external succession process, which
identified a number of high calibre candidates with the necessary
blend of skills and expertise to lead an ambitious, international
group, the Board is pleased to announce that Ian El-Mokadem will
become the Group's CEO, after commencing employment on 19 July
2021.
Richard has made an enormous contribution to the Group,
initially as CFO from 2012, before becoming CEO in 2017. During
that period, the Group's revenues have grown ten-fold through
organic growth, complemented by carefully selected acquisitions.
Most recently, Richard successfully executed the merger with SDL
which firmly positions the Group as the world's leading provider of
language services and technology.
The initial phase of SDL's integration is now largely complete,
with the planned milestones met and further cost savings
identified. Strong leadership teams have also been established
across all of the Group's reorganised divisions, with clear plans
in place to take forward the various strategies for growth.
In light of this, the Board agreed to accept Richard's
resignation and Richard will remain in the role until 25 July 2021,
allowing for a smooth handover of responsibilities.
Ian brings over 20 years of experience in senior management
roles in large and international services businesses, most recently
as CEO of V.Group, the world's leading ship management and marine
support services business, where he oversaw a significant
transformation programme, including the delivery of new
digitally-enabled approaches to crewing and vessel management,
international development, cultural change and acquisitions. He was
previously CEO of Exova Group, the global materials testing and
calibration services provider, which he steered through its IPO in
2014, grew revenues and profitability substantially, both
organically and through 18 acquisitions, before executing its sale
to Element Materials Technology in 2017. Prior to Exova, he was
Managing Director, UK & Ireland, at Compass Group, the FTSE 50
world leading provider of catering, hospitality and support
services. In this role, he drove the turnaround of a division with
revenues of c.GBP1.8 billion which, as the Group's second largest
business was critical to its success and oversaw c.65,000 people
across c.7,000 outlets. Earlier in his career he started out in
consulting with Accenture, before joining Centrica and working his
way up through a number of positions culminating in the role of
Managing Director of Onetel. Ian is also currently a Non-Executive
Director of Serco Group.
The Group continues to make good progress in 2021, in line with
the commentary provided on trading and the SDL integration in the
update provided on 22 April 2021. We will provide a further update
with our half year results on 8 June 2021.
Andrew Brode, Executive Chairman, commented:
"Richard has provided strong leadership to the Group over the
last nine years, initially as CFO before becoming CEO in 2017,
during which time the Group has significantly expanded from a
primarily IP Services business to be the world's leading provider
of language services and technology.
"He has built a world-class leadership team around him and has
laid strong foundations for the Group to realise the benefits of
the broader product portfolio and geographical reach brought by the
acquisition of SDL. Whilst we will be sorry to see him go, we
respect the decision he has made and wish him the very best for the
future."
"We are pleased to have appointed Ian who brings significant
experience of growing substantial, people and services businesses
globally, both organically and through acquisitions. We are
confident that he has the right combination of skills and expertise
to lead our ambitious Group."
Richard Thompson, CEO, commented:
"It has been a privilege to lead the Group and I am extremely
proud of the significant progress we have made during the last nine
years. Having completed the most important phase of the SDL
integration, I am confident the Group is in great shape to continue
driving profitable growth, drawing on the benefits of the SDL
acquisition, a clear vision, a strong team and leading positions
across its markets."
Ian El-Mokadem, CEO designate, commented:
"I am delighted to be joining RWS at such an exciting time for
the business. The Group has clear leadership in its specialised,
growing and fragmented markets. I look forward to leading the team
to continue to build on the Group's successful track record and
realise the clear benefits of the recent acquisition of SDL."
Other than the previous directorships listed below, there is no
further information required to be disclosed pursuant to paragraph
(g) of Schedule 2 of the AIM Rules for Companies, in relation to
Ian El-Mokadem 's appointment to the board.
Ian holds or has held directorships in the five years preceding
his appointment at the Company as follows:
Current
SERCO GROUP PLC
ROEGATE CONSULTING LIMITED
Last 5 years
EXOVA TOPCO LIMITED
AI MISTRAL TOPCO LIMITED
VOUVRAY ACQUISITION LIMITED
EXOVA GROUP (UK) LIMITED
EXOVA TREASURY LIMITED
EXOVA GROUP LIMITED
EXOVA 2014 LIMITED
ELEMENT SAUDI ARABIA COMPANY LIMITED
ELEMENT MATERIALS TECHNOLOGY ME LIMITED
ENDS
For further information, please contact:
RWS Holdings plc
Andrew Brode, Chairman
01753 480796
MHP (Financial PR advisor)
Katie Hunt / Simon Hockridge
rws@mhpc.com
0203 128 8100
Numis (Nomad & Joint Broker)
Stuart Skinner / Kevin Cruickshank / Will Baunton
0207 260 1000
Berenberg (Joint Broker)
Ben Wright / Toby Flaux / Alix Mecklenburg-Solodkoff
0203 207 7800
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END
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