BILL.L Regulatory News (BILL)

1 May 2008 07:01

Billing Services Group Limited01 May 2008 NEWS RELEASE 1 May 2008 Billing Services Group Limited ('BSG', or the 'Group') Board Changes BSG, one of the telecommunications industry's leading clearing and settlement,payment and financial risk management solutions groups, today updatesshareholders on two separate management initiatives - succession planning andcost reduction: • Greg Carter, President of BSG Clearing Solutions North America, will succeed Randall Brouckman as Chief Executive Officer for the Group with immediate effect. Mr Brouckman is standing down from involvement with the Group to concentrate on his personal interests;• the successful completion of the planned cost reduction programme, which includes the planned departures of certain group senior managers, resulting in significant annualised savings. Commenting on developments, Patrick Heneghan, BSG's non-executive Chairman said: "I am delighted to welcome Greg to the Board as part of a planned and smoothmanagement transition, and in what is both a testament to his ability and to thecalibre of senior management within the Group. I would like to thank Randy forhis notable input and leadership. He has been an inspiration to BSG, helping tosteer the Group through a transformational period and, on behalf of the Board, Iwould like to wish him well for the future." Gregory Mark Carter, 44yrs, managed BSG's San Antonio business since 2004 andwas with one of BSG's founding companies for ten years before the Group'sestablishment. Greg has held no company directorships during the past five yearsand there are no further disclosures required to be made in respect of Mr Carterwith regard to paragraph (g) of Schedule 2 of the AIM Rules. The company continues to trade in line with management's expectations and willmaintain its focus on rapid debt amortization and all other means to continue tocreate shareholder value. ENDS Enquiries: Evolution Securities Limited +44 (0)20 7071 4300Stuart Andrews Hogarth Partnership +44 (0)20 7357 9477Julian Walker This information is provided by RNS The company news service from the London Stock Exchange