27 May 2015 07:00
27 May 2015
Manx Telecom Plc
Appointment of new CEO
Manx Telecom Plc (AIM:MANX; the "Company"), the leading communication solutions provider on the Isle of Man, is pleased to announce that Gary Lamb, current Finance Director, will succeed Mike Dee as Chief Executive Officer of the Company with effect from 1 July 2015.
Gary joined Manx Telecom in October 2011 as Finance Director and has been instrumental in the Company's development since then. Prior to joining the Company, Gary held a diverse range of senior roles and has spent 20 years working on the Isle of Man, operating within the local business community and internationally.
As previously announced, Mike Dee is retiring from a full time executive career and will step down from the Board on 1 July 2015. Recruitment for a new Finance Director has commenced and shareholders will be updated in due course.
Kevin Walsh, Non-Executive Chairman said,
"The Board and I want to thank Mike for the success the Company has enjoyed during his long tenure; we wish him well for his retirement.
"Gary has been invaluable to the Manx team for the past four years as Finance Director and we are delighted that he will now be taking up the post of CEO. Gary's work with the Company and length of time spent in the business community on the Isle of Man make this an excellent appointment. The Manx Telecom business has an enviable breadth and depth to its senior management team and Gary's leadership will ensure that the business continues to deliver in line with the stated strategy."
Gary Lamb, Finance Director added,
"I am delighted to be appointed as Chief Executive Officer of Manx Telecom at an exciting time in the Company's evolution. We have a great team of people working for the company and together we will continue to serve our valued customers and support the Isle of Man Government to attract new business to the Isle of Man. We look forward to growing the company on the Island, continuing to support the local community and using our leading technology and skilled workforce to expand our business off the Island."
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For further enquiries, please contact:
Manx Telecom plc | +44 (0) 1624 636400 |
Mike Dee, Chief Executive Officer Gary Lamb, Finance Director
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Liberum Capital (Nominated Adviser and Corporate Broker) | +44 (0)20 3100 2000 |
Steve Pearce Steve Tredget
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Oakley Capital (Financial Adviser) | +44 (0) 20 7766 6900 |
Christian Maher Victoria Boxall
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Powerscourt Group (Public Relations) | +44 (0) 20 7250 1446 |
Juliet Callaghan Simon Compton Carmen Murray |
About Manx Telecom
§ Manx Telecom is the leading communication solutions provider on the Isle of Man, offering a wide range of fixed line, broadband, mobile, and data centre services to businesses, consumers and the public sector on the Isle of Man as well as a growing portfolio of innovative hosting and "Smart SIM" solutions to off-Island customers.
§ Manx Telecom has a record of innovation, being the first European operator to launch a 3G mobile service and the first in the world to launch a 3.5G mobile service. 4G service launched in the summer of 2014, and it is now available to contract and pre-pay customers with 99% population coverage. The Company's high speed VDSL broadband service (Ultima) is available to 87 per cent of homes on the Island. A VDSL Plus service launched in February 2015.
§ The Company has three data centres (two of which are Tier 3) plus international connectivity and its operations are business-critical to the economic strategy of the Isle of Man.
§ One of the largest employers on the Island, Manx Telecom employs nearly 300 people. The company plays a major role in the wider community through a range of activities, including charitable donations, sponsorships, and corporate social responsibility initiatives.
§ The company is proud to sponsor the Manx Telecom Parish Walk, Tough Mann Adventure Challenge, Manx Telecom End2End Mountain Bike Challenge, Team Manx Telecom (Manx Road Club) and Royal Manx Agricultural Show as well as other smaller events. Manx Telecom also donates annually to local causes through the company's "It's our Community" programme.
§ The Isle of Man has a resilient and growing economy which has experienced 29 years of unbroken GDP growth. Unemployment is low at 2.0 per cent, and there is a zero per cent corporate tax rate which applies to the vast majority of Manx Telecom's business and means that the Group currently pays no corporation tax on its annual profits.
§ Manx Telecom is listed on the Alternative Investment Market of the London Stock Exchange with the ticker MANX.