KCOM Regulatory News (KCOM)

2 Jun 2009 07:01



KCOM GROUP PLC (KCOM.L) - CHANGES TO BOARD STRUCTURE

Following Michael Abrahams' decision that he will retire from the Board at the Annual General meeting on 24 July 2009, the Board confirms that Bill Halbert, currently the Group's Executive Deputy Chairman, will become Group Executive Chairman. It is envisaged that this arrangement will remain in place for a maximum period of two years whilst the Group completes its transformation..

In addition, the Board, in accordance with paragraphs 9.6.11 and 9.6.13 of the Listing Rules today announces the appointment of two non-executive Directors. The appointments of Tony Illsley, as Senior Independent Non Executive Director, and Martin Towers as Chair of the Audit Committee, bring a wealth of relevant experience to the Board.

Both new Directors will become members of the Audit Committee and the Remuneration Committee with Martin Towers chairing the former. Graham Holden will chair the Remuneration Committee going forward whilst remaining a member of the Audit Committee. Following these changes the Committee membership will be compliant with the Combined Code.

Tony Illsley has held a variety of senior business positions including Chief Executive Officer of Telewest Communications PLC, President of Pepsi Cola Asia Pacific and Non Executive Directorships of Easyjet PLC and GCAP Media PLC. He is currently Chairman of Plastic Logic Limited and Velocix Limited and is a Non Executive Director of Sepura PLC and Northern Foods PLC. 

Martin Towers is a fellow of the Institute of Chartered Accountants in England and Wales and has held a number of senior finance roles including Group Finance Director at Kelda Group plc, Allied Textile Group plc and the Spring Ram Corporation PLC. He has been a Non Executive Director of Homestyle Group PLC and is currently Non Executive Director of RPC Group PLC. 

Michael Abrahams, Chairman said, "We have announced the intention to appoint Bill Halbert as Executive Chairman following the next Annual General Meeting. As evidenced by the Group's performance under his leadership thus far, I am sure he will continue to lead the Group successfully through the next phase of its transformation.

"I am delighted also to welcome Tony Illsley and Martin Towers to the Board who will bring relevant experience and value to the existing established executive team."

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