BAGR.L Regulatory News (BAGR)

25 June 2019

Bagir Group Ltd

("Bagir" or the "Company")

Directorate Change

Bagir (AIM: BAGR), a designer, creator and provider of innovative tailoring, announces that Chief Executive Officer Eran Itzhak has decided to leave the Company for personal reasons and will be stepping down from the Board on 15 July 2019.

The Board announces that Micha Ronen will join the Company as acting Chief Executive Officer and is expected to join the Board of Directors on completion of director due diligence in compliance with the AIM Rules. 

Micha knows the Company well having previously held senior management positions at Bagir between 2004 and 2010, including Chief Financial Officer, Head of USA division and latterly as Deputy CEO. Currently, Micha serves as a partner at Moore Management Consulting, a transformational management consulting firm.

Micha is a Certified Public Accountant and holds an MBA in Finance and Marketing, in addition to a BSc in Mathematics and Accounting from Tel Aviv University. 

Tessa Laws, Chairman of Bagir, said: 'On behalf of the Board and the Company I would like to thank Eran for his excellent leadership since he took the role, he successfully led the refinancing of the business, re-focused the Company on three manufacturing territories and more recently has led the proposed strategic partnership with Shandong Ruyi. We wish him well with his next venture.

At the same time I am delighted to welcome Micha back to the Company. Micha is widely respected and well known throughout the business. He is an excellent appointment for the Company and we look forward to confirming his position as permanent in the near future.'

A further announcement will be made following the expected appointment of Micha to the Board of Directors.

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