Last checked at 17 Mar 2014 07:00
17 March 2014
The Innovation Group plc
('Innovation Group' or the 'Group')
Appointment of President Worldwide Insurer Business
Innovation Group (LSE: TIG.L), a global provider of Business Process Services ("BPS") and software solutions to the insurance, fleet, motor and property industries, is pleased to announce the appointment of Paul Nichols, formerly Chief Executive Officer of Kewill plc, as President Worldwide Insurer Business.
This new role has been established as the Group seeks to bring additional focus to its global technology business, better positioning it to leverage the substantial growth opportunities available to it over the coming years.
Under Paul's leadership, the technology business will continue to invest in innovation and forge important strategic partnerships, while providing the highest quality and personalised support to clients. Based in the US, Paul will report to Andy Roberts, Group Chief Executive Officer, and sit on the global executive management team.
Paul has over 35 years of international management experience in software and services businesses and has held executive positions in a number of market-leading, listed companies. From 2002 until 2012 he was CEO at Kewill plc, a UK-listed company which he grew from a market capitalisation of under £10 million in 2002 to over £100 million in 2012 when it was acquired by Francisco Partners. Paul has also held positions as President and CEO of Logica North America, Executive Director EMEA Financial Services at IBM Global Services and Executive General Manager Financial Services at Data Sciences Plc.
Commenting on the appointment, Andy Roberts, Group CEO of The Innovation Group said:
"I am delighted to have Paul joining the Innovation Group team. I worked closely with him when I was Chairman of Kewill plc and before that at Data Sciences where he drove strategies that generated significant value for shareholders.
His wide breadth of experience will be an important asset for the Company as it seeks to grow its technology revenues. The insurance industry is changing rapidly as insurers look to adopt new business operating models with innovative solutions which meet the increasing demands of customers and the challenges facing the industry. Innovation Group has invested heavily in recent years in its technology base and, under Paul's leadership, is now in the ideal position to take advantage of the opportunities available to it.
This appointment reflects the scale of our ambition within our technology division, which we expect to deliver strong value generation to shareholders in the long term."
Commenting on his appointment, Paul Nichols, President Worldwide Insurer Business, said:
"I am delighted to be joining such a dynamic business at a really important stage in its development. Innovation Group is in a unique position to leverage their lead in both technology and services to drive growth and deliver real value for its clients. I look forward to working with Andy again and fellow members of the executive management team."
Enquiries:
The Innovation Group plc | Tel: +44 (0) 1489 898 300 |
Andy Roberts, Chief Executive Officer | |
Jane Hall, Group Finance Director Louise Fisk, Head of Global Communications | |
Investec Bank plc | Tel: +44 (0) 207 597 4000 |
Andrew Pinder / Patrick Robb / Rowena Murray | |
FTI Consulting LLP | Tel: +44 (0)20 3727 1000 |
Edward Bridges / Matt Dixon / Tracey Bowditch / Elodie Castagna |
About The Innovation Group plc:
Innovation Group (LSE: TIG) is a global provider of insurance software solutions and business process services. With revenues of £204.4m (US$332m) in 2013, it employs over 2,800 people across North America, Europe, Asia Pacific and South Africa and works with 15 of the top 20 global insurance markets, 16 of the top 20 global insurance companies and 3 of the world's top 5 fleet and lease management companies.
www.innovation-group.com