Sign In
26 Nov 2013 07:02
26 November 2013
KCOM Group PLC Board Update
Alongside its interim results statement released this morning, the KCOM Group PLC (KCOM.L) ('the Group') outlines also its plans for prospective changes to its Board and management structure.
The transformation of the Group which started in 2008 is now largely complete and a clear strategy for achieving sustainable growth is in place. Having reached this stage of its development the Group intends to split the roles of Chairman and Chief Executive.
From 1 April 2014, Bill Halbert, currently Executive Chairman, will assume the role of Group Chief Executive and Graham Holden, the role of Non-Executive Chairman. Mr Holden has been an independent Non-Executive Director (NED) for the past 6 years, throughout the process of transformation of the business. In conjunction with these changes, an additional NED will be recruited.
In parallel, Kevin Walsh, Executive Director with responsibility for our KC brand, has indicated his intention to retire from the Board in the summer of 2014 after 14 years with the business. Under his leadership, KC has grown its reputation as a regional provider of telecommunications services and continues to out-perform its peers. It is anticipated therefore that he will not stand for re-election at the next AGM in July 2014.
On that basis, following the next AGM, the Board will comprise the Chief Executive and Chief Finance Officers, as executive directors, a non-executive chairman and three non-executive directors.
The Board's priority is to continue to push ahead with the execution of its strategy for sustainable, profitable growth, by focusing on the delivery of value added services across its target markets, with the aim of establishing strong and sustainable market positions.
- ends -
Enquiries:
Bill Halbert, Executive Chairman / Paul Simpson, Chief Financial Officer
KCOM Group PLC
020 7422 8707
Cathy Phillips, Investor Relations
KCOM Group PLC
07778 335735
Matt Ridsdale/Lulu Bridges/Mike Bartlett
Tavistock Communications
020 7920 3150
Follow the stocks
