Tribal Grp. Regulatory News (TRB)

Tribal Group plc

Board Change

Tribal, a leading provider of software and services for education management, announces that Keith Evans has informed the Board of his intention to retire and step down from his role as Chief Executive and from the Board. This change will become effective 30 June 2015 and Keith will remain an employee of the Group until 31 December 2015 to assist with a smooth management transition.

The search process for a successor has commenced and a further update will be provided in due course. Rob Garner, currently Managing Director of Tribal's Management Systems and Solutions business, will assume the role of Interim Chief Executive on 1 July 2015 until the Board concludes its search for a permanent successor.

John Ormerod, Tribal Chairman, commented:

"The Board is very grateful to Keith for the contribution he has made during his time with Tribal. Keith was instrumental in the turnaround and restructuring of the Group, helping to develop and implement the strategy that leaves Tribal now a strong business, well positioned in growing markets. He leaves behind a strong executive team which the Board believes will continue to grow the Group as a leading provider of technology solutions to the education market."

Keith Evans, Tribal Chief Executive, commented:

"After an executive career culminating in 5 years as Chief Executive of Tribal, I have decided it is time for a change in lifestyle. We have over the last few years transformed Tribal into a focused business in the growing education management market, providing strong foundations for continued good progress. I am delighted to remain with the Group for the balance of 2015 to assist the smooth transition to my successor."

Keith Evans will for the period to 31 December 2015 continue to receive his current salary and benefits together with any annual bonus payable for 2015, calculated on a pro-rata basis for time served as Chief Executive. Unvested share options awarded under the Tribal Group Long Term Investment Plan will vest on their normal dates, subject to the achievement of performance targets and pro-rata for time served as Chief Executive.

Ends

Editors' note:

Tribal supports the delivery of education, learning and training services around the world. We build world-leading software, support adult learning, careers and professional development and provide school inspections and improvement services both in the UK and internationally.

We work in partnership with a wide range of organisations, including schools, colleges and universities, prisons and social services, government agencies and large and small employers.

Tribal has around 1,400 staff and our work spans five continents across the world. More information about Tribal is available online at www.tribalgroup.com. 

This Statement has been prepared for and is addressed only to our shareholders as a whole and should not be relied on by any other party or for any other purpose. Tribal, its directors, employees, agents or advisers do not accept or assume responsibility to any other person to whom this Statement is shown or into whose hands it may come and any such responsibility or liability is expressly disclaimed. This Statement may contain forward-looking statements and the financial information is unaudited. Any forward-looking statement has been made by the directors in good faith based on the information available to them up to the time of approval of this Statement and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information. To the extent that this Statement contains any statement dealing with any time after the date of its preparation, such statement is merely predictive and speculative as it relates to events and circumstances which are yet to occur and therefore the facts stated and views expressed may change. Tribal undertakes no obligation to update these forward-looking statements.