Directorate Change

RNS Number : 6557K

Infoserve Group PLC

23 April 2010

 



Infoserve Group Plc

Board Changes

Infoserve Group Plc ("the Group") announces the following Board changes, which will become effective on 1 May 2010.

James Newman will step down as Chairman of the Group, a position he has held since May 2006 and will leave the Board on 30 April 2010. James has helped guide the Group through the Group's IPO in June 2006 and a significant period of transition and progress concluding with the new funding arrangements recently agreed with the Group's major shareholder, David Hood. Now that the Group has a much more stable financial structure, James feels that this is the right moment to step down and the Board has reluctantly accepted his request.

James has extensive other business interests, including his current role as Master Cutler and will now concentrate on this role as well as extending his current non-executive portfolio. 

Steve Barnes, currently Chief Executive Officer, will become Executive Chairman of the Group from 1 May. Steve will join the Remuneration Committee and become Chairman of the Nominations Committee and continue to work closely with the Executive Directors on everyday business issues.

Andrew Thirkill, Non-Executive Director, will become Chairman of the Audit Committee.

The Company intends to commence a recruitment process for an additional non-executive director in the near future.

Commenting on the changes, Steve Barnes said "James has made a great contribution to the Group and his guidance and leadership in all matters has been important in these first few years as a publicly traded company. He has demonstrated his knowledge of financial and corporate governance issues, and led the Board well. We wish James every future success and thank him for the contribution he has made to the Group."

For further information, please contact: Infoserve Group Plc Steve Barnes, Chief Executive [e-mail]	Tel:  [phone]
Nominated Adviser WH Ireland Limited Robin Gwyn	Tel:  [phone]

 

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