Ten Entertainment Group PLC Chair Succession Announcement (0875W)
21 Abril 2021 - 01:00AM
UK Regulatory
TIDMTEG
RNS Number : 0875W
Ten Entertainment Group PLC
21 April 2021
21 April 2021
Ten Entertainment Group plc
Chair Succession Announcement
Following its announcement of 25 March 2021, Ten Entertainment
Group plc (the "Group") is pleased to announce the appointment of
Adam Bellamy as Non-Executive Chairman effective from the AGM date
on 5 May 2021.
The Group has conducted a rigorous and wide-ranging selection
process to ensure that it appoints the strongest possible candidate
to lead the business through its next stage of growth. Adam is
currently Senior Independent Director and has served on the TEG
Board since 2018 as Audit Committee Chair and latterly Remuneration
Committee Chair. His extensive knowledge of our business, as well
as his wealth of experience in high-growth consumer-facing
companies, make him ideally placed to oversee reopening and a
return to growth.
Adam is currently a non-executive director at Loungers plc, a
fast-growing hospitality operator, and In The Style Group PLC, a
high growth e-commerce fashion brand. Adam has previously served as
CFO of Pure Gym as well as holding senior finance positions in the
hospitality and leisure industry.
As a result of Adam's experience within the Group and his strong
working relationship with the Board, our current Chairman Nick
Basing has made the decision to step down earlier than anticipated,
at the AGM on 5 May 2021. Consequently, Resolution 4 from the AGM
agenda is to be withdrawn. Mr Basing will no longer be standing for
re-election, as he will resign as Chairman and a director of the
Company with effect from the AGM on 5 May 2021. The withdrawal of
Resolution 4 does not otherwise affect the validity of the Notice
of AGM dated 9 April 2021 or any proxy votes already submitted on
other proposed resolutions. The numbering of all other proposed
resolutions at the AGM will remain unchanged.
Julie Sneddon will be appointed as Senior Independent Director
and Chair of the Remuneration Committee and Adam Bellamy will be
appointed as Chair of the Nomination Committee.
The Group is already in advanced discussions with a number of
outstanding candidates to join the Board as an independent
Non-Executive Director and Chair of the Audit Committee. The Group
will announce this appointment in due course.
The Board would again like to take the opportunity to thank Nick
Basing for his outstanding contribution and leadership over the
past 12 years and wishes him every success in his future
ventures.
Adam Bellamy commented:
"I am delighted to have been selected to lead Ten Entertainment
Group at such an exciting point in its history. I thoroughly enjoy
working with this strong and experienced management team, and
despite the challenges of the past year, I am confident that we
have everything in place to return to growth when we re-open in
May."
Nick Basing said:
"I am really pleased that Adam is taking on the Chair, he knows
the business and has worked well on the Board these last three
years. The business is in safe hands and I wish everyone at Ten
good wishes and every success for the future."
Enquiries:
Ten Entertainment Group plc via Instinctif
Graham Blackwell, Chief Executive Partners
Officer
Antony Smith, Chief Financial
Officer
Instinctif Partners Tel: 020 7457
Matthew Smallwood 2005
Jack Devoy
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END
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