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26 Jan 2024 07:00
26 January 2024
Merit Group plc
("Merit", the "Company" or "the Group")
Board Changes
Merit Group plc (AIM: MRIT), the data and intelligence business, announces the resignation of its Chief Executive Officer, David Beck, and the appointment of Philip Machray as CEO, a position he will combine with his current CFO responsibilities. David will step down from the Board with immediate effect.
Mark Smith, Chairman of Merit, said;
"David joined the company as CEO in 2021 guiding the recovery following the difficult Covid impacted years and more recently led the restructuring of the Group's operations completed in 2023. The Group is now focussed on two core operating businesses both of which are growing and profitable. The Group continues to trade in line with market expectations.
"The Board is grateful for the leadership David has shown; the recovery in the Group's trading, prospects and value all reflect the hard work he has put in and the team he has helped recruit. Philip Machray has worked alongside David throughout the last two years and we are fortunate to have a natural successor who the Board is confident will continue the good progress already achieved."
David Beck commented;
"With the Group's restructuring complete it is the right time for me to move on, I am pleased to be leaving the business in good health and to be able to hand the reins over to Philip Machray who has already contributed so much to the Group's turnaround. I am confident that Phil and Con Conlon, the other Executive Director, will continue to drive the shareholder value agenda which has already more than doubled the Group's equity value in the last twelve months."
For further information, please contact: | |
Merit Group plc | |
Mark Smith - Chairman www.meritgroupplc.com | 020 7593 5500 |
Canaccord Genuity Limited (Nomad and Broker) Bobbie Hilliam Harry Pardoe
| 020 7523 8150 |
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN
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