27 Jun 2017 07:00
27 June 2017
Watchstone Group plc
("Watchstone" or the "Company" or the "Group")
Board Appointment
Further to the announcement that Indro Mukerjee will resign from the Board after completing his planned work at the end of this year, Watchstone confirms that Stefan Borson, Group General Counsel & Company Secretary, will succeed him as Group Chief Executive Officer.
Upon appointment, Stefan, who has worked with the Group for almost three years, will also continue his existing responsibilities, ensuring continuity on all legal and regulatory matters.
Watchstone also intends to reduce the size of its Board as of January 2018 to comprise Richard Rose, Non-executive Chairman; Stefan Borson as Group Chief Executive Officer (who will join the Board on Indro's departure); Mark Williams, Group Finance Director; and two further non-executive directors. Two of the current non-executive directors will resign at the end of the year and a further announcement will be made in due course.
Richard Rose commented: "For the rest of the year, Indro, Stefan and I will continue to work closely with the rest of the Board to effect a smooth transition to the new structure. With a twenty-year career in finance, legal and management positions, we believe that Stefan has the right blend of experience to successfully lead Watchstone into its next phase."
Information required under paragraph (g) of Schedule 2 of the AIM Rules will be made at the time of the formal appointment of Mr Borson.
For further information:
Watchstone Group plc
| Tel: 03333 448048 |
Peel Hunt LLP, Nominated Adviser and broker Dan Webster, Adrian Trimmings, George Sellar | Tel: 020 7418 8900 |
Notes:
Stefan Borson (42) has twenty years' experience working in and advising both listed and high growth private companies and has held Board positions in a broad range of roles from Chief Executive Officer to Corporate Development & Investment Director.
Following qualification as a Solicitor in 2000 with Addleshaw Goddard, Stefan spent seven years in Investment Banking at Investec plc specialising in advising consumer facing and technology businesses. In 2007, Stefan joined the board of Clerkenwell Ventures plc, a listed investment fund and joined Redbus Media Group as Chief Executive Officer in 2009. In August 2014, Stefan joined Watchstone Group plc as Group General Counsel and became Company Secretary in May 2015.