Directorate Change

RNS Number : 8685X

Watches of Switzerland Group PLC

03 September 2020

 

Watches of Switzerland Group PLC

Directorate Change

Watches of Switzerland Group PLC ("the Group", "the Company") today announces that Dennis Millard, Chairman has indicated his intention not to seek re-election to the Board at the forthcoming Annual General Meeting (AGM) on 14 October 2020.

Dennis will continue to Chair the Company until the close of the AGM and will be available until December 2020 to facilitate the transition to a new Chair.  It is proposed that Tea Colaianni, Senior Independent Director, will take over as Interim Chair from the close of the AGM. 

The search for a permanent successor to Dennis is underway with external consultants Spencer Stuart appointed in this regard.

Dennis Millard, Chairman, said:

"In the two years I have Chaired the Company it has seamlessly and efficiently transitioned from private to public ownership, has put in place effective governance structures and has built a strong and supportive shareholder base following the highly successful IPO in June last year.  The Group has continued to grow robustly and navigated the COVID-19 lockdown with great skill, emerging stronger than ever.  I would like to pay a particular tribute to our CEO Brian Duffy and his excellent executive team who will continue to drive the business forward and thank the Board for their support during my tenure."

Brian Duffy, Chief Executive Officer, said:

"I would like to thank Dennis for his direction and guidance as our Group transitioned into public ownership. Both the IPO and the demands of listed company status were new to me and my team and Dennis's counsel and advice, delivered with a firm hand and a fair degree of charm, were invaluable."

 

Contacts

Watches of Switzerland Group PLC Anders Romberg, CFO Allegra Perry, Investor Relations [e-mail]	[phone] [phone]
Headland Lucy Legh / Rob Walker [e-mail]	[phone]

About the Watches of Switzerland Group

The Watches of Switzerland Group is the UK's largest luxury watch retailer, operating in both the UK and US, comprising four prestigious brands; Watches of Switzerland (UK and US), Mappin & Webb (UK), Goldsmiths (UK) and Mayors (US), with a complementary jewellery offering.

The Watches of Switzerland Group has 135 core stores across the UK and US (which includes 22 dedicated mono-brand stores in these two markets in partnership with Rolex, TAG Heuer, OMEGA and Breitling) and has a leading presence in Heathrow Airport with representation in Terminals 2, 3, 4 and 5 as well as five transactional websites.

The Watches of Switzerland Group is proud to be the UK's largest retailer for Rolex, Cartier, OMEGA, TAG Heuer and Breitling watches.

Mappin & Webb holds Royal warrants as goldsmiths, silversmiths and jeweller to Her Majesty The Queen and silversmiths to His Royal Highness The Prince of Wales. The Mappin & Webb master jeweller has been Crown Jeweller, custodian of the Crown Jewels of Her Majesty The Queen since 2012.

https://www.thewosgroupplc.com

Disclaimer

This announcement does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any Watches of Switzerland Group Plc shares or other securities nor should it form the basis of or be relied on in connection with any contract or commitment whatsoever. It does not constitute a recommendation regarding any securities. Past performance, including the price at which the Company's securities have been bought or sold in the past, is no guide to future performance and persons needing advice should consult an independent financial adviser.

Certain statements in this trading statement constitute forward-looking statements. Any statement in this document that is not a statement of historical fact including, without limitation, those regarding the Company's future plans and expectations, operations, financial performance, financial condition and business is a forward-looking statement. Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, changing economic, financial, business or other market conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described in this statement. As a result you are cautioned not to place reliance on such forward-looking statements. Nothing in this statement should be construed as a profit forecast.

 

END

 

 

BOAUPUCUBUPUGQP