Last checked at 5 Dec 2016 07:00
Strictly embargoed until: 07.00, 5 December 2016
Focusrite Plc
("the Company" or "the Group")
Appointment of Chief Executive Officer
Focusrite Plc (AIM:TUNE), the global music and audio products company that trades under the Focusrite and Novation brands, is delighted to announce the appointment of Timothy Paul Carroll, aged 54, as Group Chief Executive Officer. Mr Carroll will take up the appointment and join the Board of the Group on 3 January 2017 taking over from Dave Froker, who retires at the end of December 2016.
Tim Carroll has enjoyed a distinguished career with Avid Technology Inc., (NASDAQ: AVID) the professional video and audio technology company, where most recently he was a Vice-President with global responsibility for Audio Products. He has extensive management and sales experience and is familiar with many of Focusrite's existing customers, products and sales channels.
Prior to his current role at Avid, Mr Carroll was VP for Worldwide Audio Sales 2008-2015 and has held other senior sales roles since 1998. In his most recent position, based in Berkeley, California, he was responsible for all Audio categories in Avid's executive committees and held senior management responsibility for the Audio Division. Following his appointment Mr Carroll will relocate to the UK where he will be based at the company's High Wycombe headquarters.
In light of his Industry experience Mr Carroll was elected as a Director of the US National Association of Music Merchants, a leading trade association, from 2012 to 2015. He is a professional musician by background, having attended the New England Conservatory of Music and having recorded and toured for nearly twenty years as a keyboard player, before joining Avid.
Commenting on the appointment, Executive Chairman Phil Dudderidge said:
"I have known Tim for many years and my colleagues and I are delighted to welcome him to Focusrite Plc. Tim comes to us with 18 years Audio Industry experience and is a widely respected figure in the music technology business. His mix of industry knowledge and senior management and sales experience made him the outstanding candidate and we are so pleased he has agreed to join our company. We very much look forward to his leadership in the execution of our strategic growth ambitions.
Commenting on his appointment, Tim Carroll said:
"It will be a privilege and honour to be joining Focusrite Plc as Chief Executive. The Focusrite team has a tremendous passion for providing state of the art solutions for musicians and audio engineers and I share that vision. I look forward to building on the strong foundations and to leading the company as we continue to bring superior audio solutions to our customers and importantly, positive financial results to our shareholders."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).
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Enquiries:
Focusrite Plc: |
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Phil Dudderidge (Executive Chairman) | +44 1494 462246 |
Jeremy Wilson (CFO) | +44 1494 462246 |
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Panmure Gordon |
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Freddy Crossley | +44 20 7886 2968 |
Tom Salvesen | +44 20 7886 2904 |
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Belvedere Communications |
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John West | +44 20 3567 0510 |
Kim Van Beeck | +44 20 3567 0510 |
Additional Information
In accordance with the AIM Rules, the following information required to be disclosed in relation to Mr Timothy Carroll is set out below. Other than this information, there is no further information required to be disclosed under paragraph (g) of Schedule Two of the AIM Rules.
Mr. Timothy Paul Carroll, aged 54, does not currently hold any shares in the Company. He does not currently hold any directorships and has not held any directorships in the previous five years.