26 Jun 2020 07:00
26th June 2020
Ten Entertainment Group plc
Directorate Change
The Board has been notified by Duncan Garrood, Chief Executive Officer, of his decision to resign from the Company to join Empiric Student Property plc, a more substantial company.
Duncan will remain with the business until the end of the year to deliver the reopening programme after its enforced closure due to Covid-19 and its return to more normalised trading.
A search for a high-quality successor will now begin with immediate effect.
To ensure a smooth transition and support the group at this critical time, Nick Basing, currently Non-Executive Chairman and formerly CEO, will step in as Interim Executive Chairman until the transition to a new CEO is complete. His wealth of experience and strong operational track record will be invaluable in providing a smooth handover to new leadership. The Board are confident that the experienced Executive team are well placed to reopen safely and successfully when restrictions are lifted and return to, in time, the strong trading achieved during the first few months of this year.
The Board wishes to place on record its gratitude to its Senior Non-Executive Director, David Wild, for his time on the Board over the past 3 years. He has notified the Board of his decision to resign from the Company with immediate effect. A search for his successor will also commence shortly.
Julie Sneddon, Independent Non-Executive Director and Chair of the Nominations Committee said:
"While we are disappointed that Duncan has decided to leave the Company, we are grateful to him for his commitment to work hard on a seamless transition period.
We are fortunate to be able to further strengthen our Executive team at this critical time by inviting Nick, the person who rejuvenated and established the Company's growth path, to become more involved. Nick will work with and support the senior leadership team as they set about delivering the reopening programme and returning the Company to previous trading levels and growth."
Enquiries:
Ten Entertainment Group plc Duncan Garrood, Chief Executive Officer Antony Smith, Chief Financial Officer
| via Instinctif Partners |
Instinctif Partners Matthew Smallwood Jack Devoy | Tel: 020 7457 2020 |