Directorate Change

RNS Number : 1669X

Van Elle Holdings PLC

22 November 2017

 

22 November 2017

Van Elle Holdings plc

("Van Elle" or the "Group")

Directorate change

Van Elle announces today that Jon Fenton, Chief Executive Officer, has unfortunately informed the Board that due to a serious medical matter within his close family, which has become acute in recent weeks, he will need to commit an increasing amount of time to support his family in the future. In light of this and in order to ensure that the Company's future development will not be affected, Jon has, regrettably, informed the Board that he wishes to step down as a Director once a suitable replacement has been found.

Accordingly, the Board is initiating a formal process to recruit a new Chief Executive and Jon will remain with the business through this period, continuing to work closely with the wider senior management team and non-executive directors, to ensure a smooth handover.

Adrian Barden, Chairman of Van Elle, commented:

"Jon has played an important role in the significant growth and development of the Company in recent years for which we are very grateful. He and the management team have delivered a robust performance in the first half and the Group is well placed for the future.

"Whilst we are disappointed that Jon cannot continue as Chief Executive in the long term, the Board understands and supports Jon and his family in this decision. Van Elle is fortunate to have strength and depth across our management team and whilst Jon will remain in post until his successor is appointed, we have organised responsibilities amongst the team to ensure continuity and also to allow Jon to take time away from the Company as required."

Enquiries:

Instinctif Partners (Financial Public Relations)	020 7457 2020
Mark Garraway
James Gray
Rosie Driscoll
Peel Hunt LLP (Nominated Adviser and corporate broker)	020 7418 8900
Charles Batten
Mike Bell
Justin Jones

Market Abuse Regulation

The information contained within this announcement is deemed by Van Elle to constitute inside information as stipulated under the Market Abuse Regulation. Upon the publication of this announcement via a regulatory information service, this inside information is now considered to be in the public domain.

 

END

 

 

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