GB Group PLC Appointment of New CEO (4012M)
13 October 2016 - 5:00PM
UK Regulatory
TIDMGBG
RNS Number : 4012M
GB Group PLC
13 October 2016
Embargoed until 7.00 a.m. 13 October 2016
GB GROUP PLC
("GBG" or the "Group" or "Company")
Appointment of New CEO
GBG is pleased to announce the appointment of Chris Clark as its
new CEO, replacing Richard Law who is retiring from the Board after
14 years as CEO. It is anticipated that Chris will join GBG on 1
April 2017, providing sufficient time to complete an orderly
handover.
Chris Clark is a highly experienced, successful and
well-regarded business leader who, since early 2012, has gained
experience in similar markets to GBG as MD, UK, Ireland and EMEA of
Experian. Before this he ran several large and small technology
businesses varying from 30 to 3,000 people during his 20 years at
BT. He joined BT from university and was identified early in his
account management career as a rising star, benefitting from their
excellent management and senior executive programmes. He has been
based in Washington, Brussels, Amsterdam, New York and Dublin as
well as the UK and has significant international experience.
Business culture and staff engagement featured highly in his
successful business leadership at BT, where he was in line to join
the executive leadership team. The combination of his experience,
drive and culture makes him an ideal fit for GBG's next stages of
growth.
David Rasche, Chairman of GBG, said:
"After a thorough and rigorous search process we are delighted
that Chris Clark has agreed to join GBG as its CEO. Chris has very
significant business experience and expertise in growing and
improving international technology based businesses with an
emphasis on partnering and customer relationships. He is a people
and customer centred individual with a strong history of creating
highly engaged teams, which ideally suits him to GBG's very strong
culture. He has excellent business experience and the drive to help
us take GBG to the next level of growth and development. I am
personally very pleased that we have been able to attract someone
with his calibre, track record and further potential. I look
forward to working with him and the Executive Team over the next
few years to continue the exceptional growth of our business."
Richard Law, Chief Executive of GBG, said;
"I am very proud of the progress and results that the
exceptional GBG team has achieved during my time as CEO. I feel
that our team has created the foundations for a very substantial
international business and I am very pleased that Chris Clark is to
join the business as my successor to take the Group to its next
stage of growth and advancement. I wish Chris, the Board and the
GBG team my very best wishes for continued success."
Commenting on his new role, Chris Clark, added:
"GBG is a fantastic business. With its deep pool of talent,
strong customer base, and robust balance sheet I am really excited
about having the opportunity to work with the team and lead the
Group into the next stage of its strategic development."
As part of Chris's remuneration, he will upon taking up his
appointment ('Date of Grant') be issued with an option over
1,000,000 ordinary shares of 2.5 pence ('Ordinary Shares') in the
capital of the Company (the 'Incentive Options'). The Incentive
Options will be issued at the Date of Grant at an exercise price
equal to the closing mid-market price of GBG's shares on the day
preceding the date of his appointment and will vest in equal
tranches on the third, fourth and fifth anniversary from the Date
of Grant. The Options are valid for a period of 10 years from the
Date of Grant and will be performance related with EPS and earnings
targets in line with the Company's 2020 objectives and beyond. In
addition, he will also receive an option over 400,000 Ordinary
Shares in the capital of the Company as compensation for lost
earnings and shares from his previous employer (the 'Compensatory
Options'). The Compensatory Options will be issued at an exercise
price of 2.5 pence per Ordinary Share, and will vest in equal
tranches over a period of 12 and 24 months, on each anniversary of
the Date of Grant provided he still holds the position of CEO of
GBG on the respective dates. The Compensatory Options are valid for
a period of 12 months from the vesting date.
In accordance with Schedule 2(g) of the AIM Rules, Christopher
Graham Clark (aged 47) holds or has held in the past 5 years the
following directorships and partnerships:
Current
Experian Limited
Experian Holdings Limited
Former
None
There is no further information required to be disclosed in
respect of the above appointment pursuant to Schedule 2 (g) of the
AIM Rules for Companies.
For further information, please contact:
GBG
David Rasche, Chairman
Dave Wilson, Group Finance Director
& Operations Director 01244 657333
Peel Hunt LLP (Nominated Adviser
and Broker)
Richard Kauffer 020 7418 8900
Newgate
Bob Huxford
Ed Treadwell 020 7653 9850
Website www.gbgplc.com
About GBG
GBG is a global specialist in Identity Data Intelligence. We
help organisations make decisions about the customers they serve
and the people they employ.
Through our fundamental belief that the digital economy relies
on everyone having access to data they can trust, GBG enables
companies and governments to fight fraud and cybercrime, to improve
the customer experience and help to protect the more vulnerable
people in our society.
Headquartered in Chester (UK) and with 24 locations in 15
countries, GBG provides solutions to many of the world's biggest
organisations, from established brands like HSBC and Ford to
disruptive newcomers such as Xpress Money and Stripe.
Find out more about how we use identity intelligently by
visiting www.gbgplc.com, following us on Twitter @gbgplc and
reading our blog: www.gbgplc.com/uk/blog
This information is provided by RNS
The company news service from the London Stock Exchange
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October 13, 2016 02:00 ET (06:00 GMT)