Main Board Executive Appointment

RNS Number : 2772C

Character Group PLC

03 March 2011

 



Issued by Citigate Dewe Rogerson, Birmingham

Date: Thursday 3 March, 2011                                                                                                            Immediate Release

The Character Group plc

('Character', 'Company' or 'Group')

Main Board Executive Appointment

The Group's strategy over the last few years has included a policy of focusing on strategic brands and licensed products, where the business can bring into play its expertise in character licensing, product and brand development. This approach has been very successful, as evidenced by the growth in Group revenue and profits.

At the same time, the Group has also focused on a slow build up of overseas sales as we develop suitable products and licenses. Over this period, line management has materially developed in both experience and skill and has played a significant role in the considerable progress of the Group.

The Directors believe that the Group's management team contains individuals, who given more responsibilities and time, will play an increasingly important role in the future running of the Group.

With this in mind, Character is pleased to announce the appointment of Michael Spencer Hyde (Mike Hyde) as an Executive Director of the Company and joins the Board with immediate effect. Currently, Mike is managing director of Toy Options (Far East) Ltd, Character Games (Far East) Ltd and Charter Ltd, all of which are wholly owned subsidiaries of the Group; Mike holds no other directorships at this time nor has he held any other directorships in the last five years. 

Mike (aged 36) has been in charge of the Group's Far East operations since joining the Company in 2005 and his duties include global sourcing, product development, manufacturing, quality assurance, quality control, shipping and overall general management of our offices in Hong Kong and Shenzhen, China.   Recently, he has taken on the responsibility for US sales.

Prior to joining Character, Mike spent six years working for Mattel Inc., the NASDAQ listed US toy designer and manufacturer, where he held a number of management positions, focusing on brand management, marketing and product development. He attained a Bachelor of Arts (BA) in Mandarin Chinese from Brigham Young University, Utah and a Master of Business Administration (MBA) from Loyola Marymount University, California.

Richard King, Chairman of Character commented:

"Mike has rapidly become an integral part of the Character team and will continue to play an important role in the future growth of our business. His appointment also provides a significant step in Group succession planning. His knowledge and experience of the market, combined with his excellent knowledge of Mandarin, ensures that he will strengthen the Main Board and on behalf of the Directors, employees and shareholders, I am delighted to congratulate him on his appointment."

Mike holds 100,000 issued ordinary shares of 5 pence each ("Ordinary Shares") in Character representing 0.42    percent of the current issued share capital and he holds an option over 72,000 unissued Ordinary Shares.

There is no further information to disclose in respect of the appointment of Mr. Hyde under Schedule 2 paragraph (g) of the AIM Rules.

Enquiries:		Financial Media and IR
	Richard King, Chairman	Fiona Tooley	Russell Cook
	Kiran Shah, Group Finance Director & Joint MD	Keith Gabriel	Carl Holmes
	The Character Group plc	Citigate Dewe Rogerson	Charles Stanley Securities
	Mobile: [phone] (RK)	Mobile: [phone] (FMT)	(Nominated Adviser)
	Mobile: [phone] (KS)	Tel: [phone]	Tel: [phone]
	Tel: [phone]

 

END

 

 

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