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17 Feb 2025 07:00
17 February 2025
World Chess Plc
("World Chess" or the "Company" or the "Group")
Board Changes
World Chess (LSE: CHSS), a leading chess organisation committed to enhancing the global mass market appeal of chess by introducing a variety of innovative chess-related activities, announces that following a review of its board structure as part of its corporate governance procedures, it has been resolved that changes to the composition of the board will be made during 2025.
As part of these changes, it has been agreed that Graham Woolfman, the Company's Non-Executive Chairman, will step down with immediate effect and Neil Rafferty, a current Non-Executive Director, will be appointed as Interim Chairman. The process to recruit a new Chair with experience of the digital and sports development sectors will commence immediately.
Mr Woolfman will continue to assist the CEO and Board as an advisor to the Company during a transition period, and in support of its development plans going forward. These plans include the strengthening of the executive management team, which will also support the company's development and growth plans for 2025 and beyond.
Ilya Merezon, CEO said "I would like to thank Graham on my own and the Board`s behalf for his contribution both before the IPO,and since as Chairman, and we will welcome his continued involvement in an advisory capacity. I have personally learned a lot from him and look forward to working with him in his new capacity"
Graham Woolfman commented: " I am pleased to have been able to contribute to the Board of World Chess as Chair during the period since admission to the London Stock Exchange in April 2023. I believe now is an appropriate stage in the Company`s journey to step down from the Board and am pleased to continue to provide support during a period of recruitment and transition."
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
For more information, visit: www.worldchess.com or contact:
World Chess Ilya Merenzon, CEO | merenzon@worldchess.com |
Novum Securities Limited - Financial Adviser David Coffman / Anastassiya Eley | +44 (0) 20 7399 9400 |
Notes to Editors
About World Chess Plc
World Chess (LSE: CHSS) is a London-based chess gaming and entertainment company and Fédération Internationale des Échecs ('FIDE') official commercial partner. World Chess organised the FIDE Championship Matches in the USA, and the UK, and revolutionised the sport by signing the biggest media partnerships in history. World Chess develops Armageddon, the chess league for prime-time television. World Chess also runs FIDE Online Arena, the exclusive official chess gaming platform. More at worldchess.com.
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