IDOX PLC Directorate Change (8028O)
November 10 2016 - 1:01AM
UK Regulatory
TIDMIDOX
RNS Number : 8028O
IDOX PLC
10 November 2016
10 November 2016
Idox plc
("Idox", the "Company" or the "Group")
Directorate Change
Idox plc (AIM: IDOX), a leading supplier of specialist
information management solutions and services, today announces that
its Chief Executive, Richard Kellett-Clarke, stepped down as Chief
Executive with effect from 9 November 2016. Andrew Riley,
previously the Group's Chief Operating Officer, has today been
appointed Chief Executive to succeed Richard, with effect from 10
November 2016. The Company has also announced separately today a
trading update.
The appointment follows a thorough recruitment process, run by
the Nominations Committee working with external recruitment
consultants, as part of the Board's long-term succession planning.
The Committee were particularly impressed with Andrew's strategic
vision for the Company and are delighted that an internal candidate
prevailed against such a strong external candidate field.
Andrew Riley joined the Group in 2000. He was Managing Director
of Idox's Public Sector Software Division from 2011 and led its
successful transformation into one integrated business unit. He was
appointed to the Board as Chief Operating Officer (COO) in July
2015.
Richard will remain at Idox as a Non-Executive Director, until
the end of the current financial year ending 31 October 2017 to
ensure an orderly handover and to assist with the integration of
recent acquisitions and the ongoing development of the Group's
strategy.
Laurence Vaughan, Chairman, said:
"Richard has played a key role in the transformation of Idox
over the last ten years, first as Finance Director, then as Chief
Operating Officer and most recently as Chief Executive. From
joining the Group in 2006 he has been instrumental in establishing
and delivering the Group's organic and acquisition growth strategy,
resulting in a near fifteen-fold increase in the share price and
market capitalisation over that time. We thank him for his
significant contribution to the Group.
Andrew Riley has also been a key member of the senior management
team during this time and takes over a business in the best shape
it has ever been. He is the ideal person to continue the Group's
development and help us achieve our target of GBP100 million
revenues in the short to medium term."
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014
("MAR").
-ends-
Enquiries:
Idox plc +44 (0) 870 333 7101
Laurence Vaughan, Chairman
Andrew Riley, Chief Executive
Jane Mackie, Chief Financial Officer
N+1 Singer (NOMAD and Broker) +44 (0) 20 7496 3000
Shaun Dobson
Liz Yong
MHP (Financial PR) +44 (0) 20 3128 8100
Reg Hoare/Andrew Leach/Charlie Barker
For more information see www.idoxplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOABCBDBBXGBGLC
(END) Dow Jones Newswires
November 10, 2016 02:01 ET (07:01 GMT)