Softcat PLC Board Changes (0354G)
24 May 2017 - 4:01PM
UK Regulatory
TIDMSCT
RNS Number : 0354G
Softcat PLC
24 May 2017
24 May 2017
Softcat plc
("Softcat", the "Company")
Board Changes
The Board of Softcat announces that Martin Hellawell has decided
to step down as Chief Executive Officer once a successor is in
place. At that time, and given Martin's extensive and unparalleled
experience in the sector, the Board intends to appoint him to take
over as Non-Executive Chairman and Martin has agreed to do so.
Brian Wallace, currently the Non-Executive Chairman, would then
retire from the Board. A search for the new Chief Executive Officer
will be led by Brian Wallace and Lee Ginsberg, Senior Independent
Director.
The decision to appoint Martin as Non-Executive Chairman has
been discussed with a number of the Company's largest shareholders
and reflects the Board's strong view that, in addition to the
leadership role Martin has played in driving the business forward,
he also enjoys an outstanding reputation in the sector and has well
developed relationships built over many years and it is in the
interest of the Company and its shareholders to continue to benefit
from these attributes going forward.
Commenting on his decision, Martin Hellawell said: "It has been
a great pleasure for me to have led Softcat for the past 11 years.
It has been an intense period and it is my sincere belief that it
is now the right time to step down and for the Board to appoint a
new leader to the business, one with fresh energy and approaches to
capitalise on the fantastic opportunities ahead of us.
The business is in robust shape and we have great people, a
unique business and a highly motivated corporate culture that
celebrates success and drives our growth. We reported a strong
first half earlier this year and have confirmed this morning that
the business continued to trade well in the third quarter.
I am delighted that the intention is for me to continue being
part of the organisation in the role of Non-Executive Chairman. I
look forward to the new role and challenge and will support the new
Chief Executive Officer and the business in every way I can.
In the meantime, we have a job of work to do and I remain fully
focussed on leading Softcat as Chief Executive Officer until my
successor is in place."
Brian Wallace, Non-Executive Chairman said: "It has been a
privilege for me to have been on the Board of this hugely positive,
vibrant and successful Company since 2013. Following Martin's
decision to step down as Chief Executive Officer, and having
chaired the company through its highly successful IPO and first two
years as a PLC, I strongly believe that the appointment in due
course of Martin Hellawell as Non-Executive Chairman is in the best
interests of the Company, its employees, shareholders and other
stakeholders."
This announcement contains inside information. The person
responsible for arranging the release of this announcement on
behalf of Softcat is Win Chime, Company Secretary.
For further information please contact:
Softcat plc
Brian Wallace, Non-Executive Tel: + 44(0) 1628
Chairman 403 403
Lee Ginsberg, Senior Independent
Director
Martin Hellawell, Chief
Executive Officer
Media Enquiries - FTI Consulting Tel: + 44(0) 203
LLP 727 1000
Ed Bridges
Matt Dixon
Dwight Burden
This information is provided by RNS
The company news service from the London Stock Exchange
END
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