Ebiquity Regulatory News (EBQ)

27 Sep 2007 07:01

Thomson Intermedia PLC27 September 2007 27 September 2007 Thomson Intermedia plc Board Changes Thomson Intermedia plc ("Thomson Intermedia" or the "Group", AIM: THN), aleading provider of media intelligence, is pleased to announce the followingBoard changes. Michael Greenlees, who joined the Board as a Non-Executive Director in April2007, will become Chief Executive with effect from 10 October 2007. At the sametime, Steve Thomson and Sarah Jane Thomson will step down as joint ChiefExecutives but will remain on the Board as Non-Executive Directors. Inaddition, Nick Manning will join the Group to take up the newly-created role ofChief Operating Officer with immediate effect. Michael Greenlees has over thirty years experience within the advertisingindustry. He was a founder of GGT (Gold Greenlees Trott) in 1980 and, followingits acquisition by Omnicom Inc. in 1998 for £143m, became President and ChiefExecutive of TBWA Worldwide and subsequently Executive Vice President and BoardMember of Omnicom Inc. Michael is currently special adviser to General Atlantic, one of the world'sleading private equity groups, where he specialises in digital media and on-linemarketing. He also serves on the Board of Hewitt Associates, a global humanresources outsourcing and consulting firm, where he is Chairman of theCompensation and Leadership Committee and member of the Nominations andGovernance Committee. He is a member of the Governing Council of WarwickUniversity. Nick Manning, 50, was co-founder of Manning Gottlieb Media (now known as ManningGottlieb OMD) one of the most highly respected and fastest growing mediaspecialists in the UK. In 1997, Manning Gottlieb Media was sold to Omnicom Inc.and in 2004 Nick Manning became Chief Executive of OMD Group Ltd, the secondlargest media agency group in the UK. Michael Higgins, Chairman commented: "The founding partners have long recognised the need to strengthen themanagement team in order to exploit the full potential and opportunity of thisbusiness. The opportunities that we identified at the preliminary resultscontinue to give us confidence in the long term prospects for the business. "We are delighted to have a new management team in place to take over the reinsfrom the founders Steve and Sarah Jane. Michael and Nick are two of the mostrespected members of the media community and the fact that we have been able toattract executives of this calibre speaks volumes about both the quality and thefuture potential of this outstanding Group. "It is impossible to overstate the contribution that Steve and Sarah Jane havemade to the creation and development of Thomson Intermedia since founding theGroup ten years ago. It was their vision, passion and drive that made ThomsonIntermedia what it is today, and as the Group's largest shareholders, I am verypleased that they have agreed to continue to support the Group as Non-Executivedirectors." Michael Greenlees, said: "I am delighted to be given this opportunity to steer Thomson Intermedia forwardinto its next stage of growth. The media landscape is changing at breathtakingpace, and with the explosion in online advertising, advertisers increasinglyseek independent advice in order to ensure maximum return on their investment. "I believe Thomson Intermedia is ideally placed to become a world leader inmedia advisory services, and the newly created role of Chief Operating Officerwill help ensure that we harness our global platform to achieve maximumpotential for shareholders. "Nick Manning and I share the founders' vision and together look forward toworking with Sarah Jane and Steve to fully exploit the significant marketopportunities." During the last five years, Nick Manning has been a director of OMD Group Ltd,OMD International Ltd, OPera Media Ltd and Manning Gottlieb OMD Ltd. He doesnot hold any current directorships. No further disclosures are required to bemade under Schedule 2, paragraph (g) of the AIM Rules. Although current trading continues in line with expectations there will be asmall cost increase of £0.3 million resulting from the Board changes. The Boardcontinues to expect a material second half weighting. Enquiries: Thomson Intermedia Michael Higgins, Chairman 020 8466 2906 Michael Greenlees 020 7457 2020 Sarah Jane Thomson 020 8466 2906 Landsbanki Shaun Dobson/Fred Ward 020 7426 9000 College Hill Sara Musgrave/Adrian Duffield 020 7457 2020 This information is provided by RNS The company news service from the London Stock Exchange