VTC.L Regulatory News (VTC)

18 Sep 2008 07:00



18 September 2008

The Vitec Group plc

Directorate changes

The Vitec Group plc (the "Group") announces the following changes to the Board:

Gareth Rhys Williams, chief executive of the Group since 2001, has informed the Board of his intention to leave the Group to become chief executive of a company controlled by a UK based private equity group that manufactures and sells safety equipment worldwide. The nominations committee is currently undertaking a process, involving both external and internal candidates, to identify and appoint a successor to Gareth. A further announcement will be made in due course. 

Alastair Hewgill has been appointed interim chief executive of the Group, with effect from 1 October 2008. Alastair joined the Group in 2002 as group finance director and his appointment will ensure continuity. Gareth will continue with the business until early November.

Richard Cotton, 47, has been appointed group finance director and will join the Group in November 2008. Richard is currently group finance director of Wagon plc, a leading European automotive engineering group listed in the UK. 

Michael Harper, chairman of the Group, said:

"Gareth leaves Vitec with the Board's best wishes for the next stage of his career. He can be proud of what he and the team have achieved. Until a new chief executive is appointed, he leaves the Group in Alastair's experienced and capable hands.

"I would like to welcome Richard Cotton to the Group. Thanks to the combined efforts of Gareth and Alastair, together with the rest of the Group's management team, he joins a Group which is in good shape and well positioned for the opportunities and challenges ahead. I look forward to his contribution to the Board and the Group." 

Enquiries:

The Vitec Group plc

Michael Harper, chairman: 020 8939 4650

Alastair Hewgill, interim chief executive: 020 8939 4650

Financial Dynamics

Richard Mountain: 020 7269 7186

  Notes to editors:

1. Vitec is an international Group, principally serving customers in the worldwide media sector with products and services for the broadcast, entertainment and photographic industries. Vitec is based on strong, well known, premium brands that professionals rely on. Vitec is organised in three divisions: Imaging & Staging, Broadcast Systems and Broadcast Services. More information can be found at: www.vitecgroup.com

2. Richard Cotton, 47, has been the group finance director of Wagon plc since April 2005. Richard is a fellow of the Chartered Institute of Management Accountants, having graduated from Kingston University and Montpellier Business School. Prior to his role with Wagon, Richard was Group Finance Director of McLeod Russel Holdings plc until it was taken over by SPX Corporation in December 2003, after which he was VP General Manager of the merged business. As part of his role with McLeod Russel Holdings, Richard was a director of each of the following companies which have been, or are in the process of being, liquidated. Each of these companies was dormant, however the companies were placed in creditors voluntary winding up by their shareholders (in each case ultimately owned by McLeod Russel Holdings) as their history of liabilities was unclear. The table below sets out the date of the shareholder resolution and, if dissolved, the date they were dissolved:

There is no further information to be disclosed pursuant to Listing Rule 9.6.13