Mind Gym Plc Regulatory News (MIND)

1 December 2023

Mind Gym PLC

("Mind Gym", the "Group" or the "Company")

Directorate Changes

CEO Succession and Board Changes

MindGym (AIM: MIND), the global provider of human capital and business improvement solutions, announces changes to its leadership team as part of the planned evolution from being a founder led business.

Appointment of Christoffer Ellehuus as CEO designate

Following an extensive search process, which commenced early in the year, and after consultation with key institutional shareholders, the Board is delighted to announce the appointment of Christoffer Ellehuus as CEO designate. Christoffer is currently at Korn Ferry, where he is President of Digital and leader of the firm's Global Sales Effectiveness Practice. He will join MindGym on 8th January 2024, transitioning to CEO by the time of the AGM in July 2024. At this point, subject to regulatory approval, he will be appointed to the Board of Directors. 

On Christoffer's appointment to the Board as CEO, Octavius Black will move to the role of Executive Chair. Octavius's executive responsibilities will be focused on increasing MindGym's market presence, further development of product and thought leadership and building relations with major clients.

Summary of further board changes

In conjunction with the CEO succession, a series of further board changes are planned, to retain strong corporate governance, providing the right balance of skills, experience and independence, and to support the delivery of MindGym's strategy:

· Chair:

o  Ruby McGregor-Smith's three-year term as Chair ends in July 2024

o  Octavius Black, the Group's current CEO, will, at this point, transition to Executive Chair

· Non-Executives Directors:

o  Sally Tilleray will continue as Senior Independent Director, Trevor Phillips as Independent Non-Executive Director, and David Nelson as Non-Executive Director

o  Joanne Cash will not seek re-appointment at the AGM and will step down from the role of Non-Executive Director at that juncture

o  A new independent Non-Executive Director will be appointed by no later than the AGM

Dominic Neary and Sebastian Bailey will continue in their current executive roles. Following the board restructure, the Board will consist of four Executive directors, including Octavius Black as Executive Chairman, alongside four Non-Executive Directors, three of whom will be independent.

Octavius Black, Chief Executive Officer of Mind Gym, said:

"I am delighted that we have appointed Christoffer Ellehuus as CEO Designate as part of our plan to reduce founder dependency and drive scalable growth.

Christoffer has a highly complementary skill set to the existing leadership team. He comes to MindGym with a track record of successful commercial, product and digital leadership in our market, including as CEO of a global learning business, and has worked and lived in both US and EMEA, our two core markets.

MindGym has remarkable proprietary IP built over 23 years and tested with over 5 million business leaders, high levels of repeat revenue from a roster of FTSE-100 and S&P-100 companies, and a unique strategy that integrates live, virtual and digital, fuelled by data.

Christoffer's arrival brings a strong commercial discipline, which gives us even more confidence that we can convert these signature strengths, into strong financial performance in the years ahead.

Whilst they will remain in seat until the AGM, I would like to thank Joanne and Ruby for their significant contribution to MindGym. Their leadership has been invaluable."

Enquiries:

About Mind Gym

Mind Gym is a company that delivers business improvement solutions using scalable, proprietary products which are based on behavioural science. The Group operates in three global markets: business transformation, human capital management and learning & development. Mind Gym is quoted on the London Stock Exchange Alternative Investment Market (ticker: MIND) and headquartered in London. The business has offices in London, New York and Singapore. Further information is available at www.themindgym.com

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR") EU no.596/2014. Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.