New CEO starts at BigDish as board reviews corporate governance

(Sharecast News) - Restaurant management platform operator BigDish announced that Tom Sumner had started his employment on 2 December as its chief executive officer, based in its Manchester office.
The London-listed firm said its former CEO Sanj Naha has entered into a consultancy agreement with it, under which he would advise on the acquisition of restaurant groups and technology integrations with electronic point of sale companies and other third party restaurant technology platforms.

Additionally, it noted press comment on its notification on 30 May where it stated that 'the company is funded to execute its strategy'.

"The company acknowledges that this statement may have been interpreted to suggest it had sufficient funds to fully execute its strategy," the board said in its statement.

"The additional funds received by the company on 6 June provided the company with funds to accelerate the implementation of its strategy.

"The board acknowledges that the notification on 30 May should have been clearer and, with the benefit of hindsight, would have been better to have omitted the phrase altogether."

Furthermore, the board said it recognised the importance to adopt a high standard of corporate governance, and as a result it had commissioned a review of its corporate governance processes and procedures.

"The company intends to adopt an appropriate and recognised corporate governance code and make detailed disclosure on its website as to how it conforms with such a code.

"The company believes it will benefit from having an independent non-executive director as part of the board and is currently in discussions with its advisers regarding suitable candidates."

At 1310 GMT, shares in BigDish were down 11.29% at 1.38p.