Appointment of New CEO

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 

 

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