Last checked at 19 Jul 2016 07:00
Strictly embargoed until: 07.00, 19th July 2016
Focusrite Plc
("the Company")
Board Change
Focusrite Plc (AIM: TUNE), the global music and audio products company supplying hardware and software used by professional and amateur musicians around the world, announces that CEO Dave Froker will retire from the Company and is expected to leave his position towards the end of the calendar year. The Board has engaged an executive search firm to assist in the recruitment of a new CEO, and the Company intends to finalise the appointment of Mr Froker's successor in advance of him leaving. A further update will be given to investors in due course.
Commenting on his departure Phil Dudderidge, Executive Chairman, said: "At a personal level I am naturally sad that Dave has decided to retire, as we have worked together for a long time and he has been instrumental in the success we have enjoyed to date.
"His term as CEO of Focusrite has seen the Company double in size and go public, his achievements are truly great and we will miss him. He leaves the business in a strong position with a three year strategic growth plan in place and depth in the Board room and wider management team to execute on those plans. I know I speak for all my colleagues when I say 'thank you Dave and our very best wishes for your retirement'."
Mr. Froker said: "I have been fortunate to have had a long and happy career in professional audio and I am now looking forward to returning home to my family in the USA. I give many thanks to Phil Dudderidge for his enduring friendship and professional support, to the Board of Focusrite, and to our employees, who are world-class colleagues. I will spend the last few months of my tenure as CEO ensuring that we achieve our stated objectives and as a shareholder I am confident that the Company can achieve even greater things over the long term."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014
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Enquiries:
Focusrite Plc: |
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Dave Froker (CEO) | +44 1494 836301 |
Phil Dudderidge (Executive Chairman)
| +44 1494 836301 |
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 |
Notes to Editors
Focusrite is a global music and audio products group supplying hardware and software products used by recording professionals and musicians, to enable high quality music production and performance.
The Group has two established and rapidly growing brands: Focusrite and Novation. The Focusrite brand makes audio interface and other products for music recording and live performance production. The Novation brand allows its customers to make electronic music using synthesisers and computer-enabled technology.
The Group has a global customer base with a distribution network covering approximately 160 territories. Focusrite is headquartered in High Wycombe, United Kingdom with a marketing subsidiary in Los Angeles, United States and has around 160 employees.