On the Beach Group PLC Directorate Change (3607Q)
November 29 2016 - 1:01AM
UK Regulatory
TIDMOTB
RNS Number : 3607Q
On the Beach Group PLC
29 November 2016
29 November 2016
On the Beach Group plc
("On the Beach" or the "Group")
Directorate Change
Retirement of Chief Financial Officer and announcement of
successor
The Board of On the Beach Group plc (LSE: OTB.L), the UK's
leading online retailer for beach holidays, announces that on 16
January 2017, Wendy Parry will retire as Chief Financial Officer
and will be succeeded by Paul Meehan, currently Director at Gala
Coral Interactive (Gibraltar) Ltd. (now part of the newly merged
Ladbrokes Coral Group plc).
A full transition and induction plan is in place and Wendy has
agreed to be available for as long as required to ensure a smooth
and orderly handover. Wendy's retirement and Paul's appointment are
the result of a carefully planned and thorough succession planning
and recruitment exercise, overseen by the Nomination Committee in
anticipation of Wendy's retirement plans.
Paul joined Gala Interactive as Finance Director in April 2012,
as part of a new management team, re-launching an online gaming
business in Gibraltar. The business successfully launched three new
online gaming sites, taking the largest brand to be UK market
leader. In November 2014, Gala Coral's two businesses in Gibraltar
(Gala Interactive and Coral Interactive) were integrated. Paul
became Finance Director of the combined business which continued to
deliver market leading growth.
More recently, Paul was Director responsible for the Interactive
planning and integration aspects of the merger between Gala Coral
Group Limited and Ladbrokes plc which was announced in June 2015
and completed in November 2016. Paul previously held CFO/FD
positions in a number of businesses in the UK, including online,
gaming and technology businesses, a number of which were private
equity backed.
Wendy joined On the Beach in April 2010 and has led the finance
function since then. Wendy and her team worked to deliver the
Group's successful IPO in September 2015 and she has been an
integral part of the Group's development from a private to public
company.
The Group will announce its audited Preliminary Results on 6
December 2016.
Simon Cooper, Chief Executive of On the Beach Group plc,
commented:
"I am delighted that Paul has agreed to join On the Beach as
Chief Financial Officer. He is an excellent cultural fit for the
business and his skills, knowledge and experience will be
invaluable as the Group continues on its strong growth trajectory
in both the UK and internationally.
"I would also like to take this opportunity to thank Wendy for
all of her hard work and support since she joined On the Beach in
2010. Wendy has been incredibly important to the Group's success,
not least helping to deliver our successful IPO in September 2015.
I wish Wendy all the best for her retirement."
For further information:
On the Beach Group plc c/o FTI Consulting
Simon Cooper, Chief Executive
Officer
Wendy Parry, Chief Financial
Officer
FTI Consulting Tel: +44 (0)20 3727
Jonathon Brill 1000
Alex Beagley
Fiona Walker
About On the Beach
On the Beach is one of the UK's largest online retailers of
beach holidays with a 20% share of the online short haul beach
holiday market. The Group has a large opportunity to generate
further growth and has a vision to become Europe's leading online
retailer of beach holidays. On the Beach provides a significant
structural challenge to legacy tour operators and travel agents as
the Group continues its journey to disrupt the online retail of
beach holidays with its scalable, flexible, innovative technology,
combined with a strong customer value proposition and a low cost
base. The business model is customer-centric, asset light,
profitable and cash generative.
www.onthebeachgroupplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOADBBDBBGDBGLI
(END) Dow Jones Newswires
November 29, 2016 02:01 ET (07:01 GMT)
On The Beach (LSE:OTB)
Historical Stock Chart
From Apr 2024 to May 2024
On The Beach (LSE:OTB)
Historical Stock Chart
From May 2023 to May 2024