Ten Entertainment Group PLC Appointment of New CEO (2714Y)
08 September 2020 - 4:00PM
UK Regulatory
TIDMTEG
RNS Number : 2714Y
Ten Entertainment Group PLC
08 September 2020
8 September 2020
Ten Entertainment Group plc
("Ten Entertainment" or the "Group")
Appointment of New CEO
Following the conclusion of a rigorous search for a new CEO, the
Board is pleased to announce the appointment, with immediate
effect, of Graham Blackwell, initially as Interim Chief Executive
Officer.
Graham is currently the Group's Chief Operating Officer. He has
over 30 years' experience within this industry and has served on
the Ten Entertainment Board since the IPO in 2017. His unique
experience and outstanding execution skills make him ideally placed
to lead the business through this next phase. Graham will continue
to be supported by Antony Smith as CFO with guidance and oversight
from Nick Basing, Interim Executive Chairman.
Following Graham's appointment today, the Board has agreed that
Duncan Garrood will step down from the Board and leave the business
today, earlier than previously announced.
The Group is pleased to have successfully re-opened 42 of its
family entertainment centres. Three sites remain in local lockdown,
and these are ready to open when local regulations allow. Initial
trading has been very encouraging and is building week on week,
proving to be cash generative already.
A further update will be given with the Group's interim results
for H1 2020 at the end of September.
Nick Basing, Interim Executive Chairman said:
"The Board were unanimous that Graham is the stand out candidate
to lead the Group. He has been instrumental in the business
transformation over recent years. His track record has been
outstanding and I look forward to continuing to work closely with
him.
I'm delighted that trading has begun so encouragingly. This is a
function of the widespread consumer appeal of our offer, the
quality of our operating estate and our strong leadership team.
Under Graham's direction I am confident that we will return to our
trajectory of growth in sales and profitability."
Enquiries:
Ten Entertainment Group plc via Instinctif
Graham Blackwell, Interim Chief Executive Partners
Officer
Antony Smith, Chief Financial Officer
Instinctif Partners Tel: 020 7457
Matthew Smallwood 2020
Jack Devoy
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END
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