ThinkSmart Limited Appointment of Chief Executive Officer (8989F)
23 May 2017 - 4:02PM
UK Regulatory
TIDMTSL
RNS Number : 8989F
ThinkSmart Limited
23 May 2017
23 May 2017
ThinkSmart Limited
("ThinkSmart" or the "Company" or, together with its
subsidiaries, the "Group")
Appointment of Chief Executive Officer
ThinkSmart Limited (AIM: TSL), a leading provider in the UK of
retail point-of-sale lease finance for high-volume, small-ticket
electronic and commercial equipment, is pleased to announce the
appointment of Gerald Grimes as Chief Executive Officer. Gerald
will take up the appointment and join the Company's board (the
"Board") on 1 July 2017.
Gerald (aged 53) joins from Hitachi Capital where he was
Managing Director of Hitachi Capital Consumer Finance and sat on
the board of Hitachi Capital (UK) PLC. As at March 2016, he was
responsible for annual sales of GBP1.7bn, net earning assets of
GBP2.1bn and approximately 400 employees. Gerald joined Hitachi
Capital in 2007, with responsibility for re-launching and
developing its UK consumer finance proposition. Over approximately
10 years, he successfully built a market leading UK point-of-sale
finance business founded on deep relationships with some of the
UK's foremost retailers. Gerald was instrumental in diversifying
the consumer finance product offering, including launching Hitachi
Capital's personal finance proposition, growing this into a GBP1bn
portfolio within 3 years.
Prior to joining Hitachi Capital, Gerald spent six years as
Sales Director at The Funding Corporation, where he launched a new
consumer finance business in the UK and, prior to that, six years
at GE Capital where he was Sales Director.
Gerald plays an active role in shaping industry debate. He is a
Director of the Finance & Leasing Association (for which he has
also acted as Chairman), in addition to being a member of the FCA
Small Practitioner Board.
Commenting, Ned Montarello, Executive Chairman, said:
"On behalf of the Board, I am delighted to welcome Gerald as
ThinkSmart's new Chief Executive. He brings tremendous breadth and
depth of relevant experience and has an outstanding track record.
Gerald has already helped transform one retail point-of-sale
finance business into a market leader by developing the offering
and significantly expanding its reach across multiple verticals. We
are confident he can lead ThinkSmart on a similar growth
trajectory."
Gerald Grimes commented:
"I am extremely excited by the opportunity to enable ThinkSmart
to realise its full growth potential. I've been highly impressed
with its sophisticated digital solution and can see a clear pathway
to extending its reach across new sectors and customers. I look
forward to working with ThinkSmart's Board and senior management
team to deliver on the Group's tangible opportunities for rapid
growth."
Further information on Gerald Grimes:
A full list of current directorships and past directorships held
within the last five years are listed below:
Current Directorships:
Position Company
Director Financing & Leasing Association
Past Directorships (in the last five years):
Position Company
Director Triangle Select Properties
Limited
Director Hitachi Capital (UK) PLC
Gerald Grimes does not hold any shares in the capital of the
Company.
Save as disclosed above, there are no further disclosures
required to be made in respect of the appointment under Schedule 2
paragraph (g) or Rule 17 of the AIM Rules for Companies.
For further information please contact:
ThinkSmart Limited Via Instinctif Partners
Ned Montarello
Canaccord Genuity Limited (Nominated
Adviser, Financial Adviser
and Joint Broker) +44 (0)20 7523 8350
Sunil Duggal
David Tyrrell
Andrew Buchanan
Richard Andrews
Peel Hunt LLP (Joint Broker) +44 (0) 20 7418 8900
Charles Batten
Guy Wiehahn
Rishi Shah
Instinctif Partners +44 (0)20 7457 2020
Giles Stewart
Karranjit Sahota
Ambrose Fullalove
Cannings Corporate Communications
(for Australian enquiries) +61 (0)2 8284 9993
Michael Mullane
About ThinkSmart Limited
ThinkSmart Limited is a leading provider in the UK of retail
point-of-sale lease finance for high-volume small-ticket electronic
and commercial equipment. The Group provides both B2B and B2C
point-of-sale lease finance, primarily through its longstanding
relationship with Dixons Retail and its new relationship with
Carphone Warehouse. The Group's product offering is underpinned by
a proprietary, innovative and scalable technology platform,
SmartCheck. Since it commenced operations in the UK in 2003, the
Group has processed in excess of 350,000 individual
applications.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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