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SysGroup PLC - Liverpool-based IT services and cloud-hosting provider - Says Chief Executive Officer Adam Binks will step down following publication of annual results on June 26. He will remain as a consultant for six months "to ensure the orderly and smooth transition of his responsibilities." Also on June 26, Heejae Chae will join as executive chair and "take day-to-day responsibility" for running SysGroup. Chae was previously CEO of Scapa Group PLC and Volex PLC, and is chair of the remuneration committee at IP Group PLC. Following Chae's appointment, current Non-Executive Chair Michael Edelson will step down to become a non-executive director. Edelson plans to retire following next annual general meeting in September.
Binks says: "I've thoroughly enjoyed my tenure at SysGroup...we have built a solid business which can be used to bolt-on further acquisitions and continue to grow organically and I am looking forward to seeing SysGroup go through its next stage of growth under Heejae's leadership."
Current stock price: 34.35p, down 1.9% in London on Friday
12-month change: up 32%
By Emma Curzon, Alliance News reporter
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