EVE Esr 2022 Plc

 
 Eve Sleep plc (EVE) 
Eve Sleep plc: Director Change 
 
06-Apr-2020 / 09:30 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
      Eve Sleep plc ("eve" or the "Company") 
 
      Director change 
 
James Sturrock to step down as CEO, Cheryl Calverley currently CMO promoted 
      to CEO 
 
 eve Sleep, the direct to consumer sleep wellness brand operating in the UK, 
  Ireland and France announces that James Sturrock has informed the Board of 
    his intention to step down from his role as Chief Executive Officer with 
     effect from 12 May 2020, to take-up a new external position. James will 
    remain on the Board as a Non-Executive Director, with effect from 12 May 
   2020, allowing the Company to continue to benefit from his expertise. The 
 Board is delighted to announce that Cheryl Calverley, currently eve's Chief 
 Marketing Officer, will be promoted to the role of CEO. It is intended that 
   Cheryl will be appointed to the Board of eve subject to the completion of 
            the customary due diligence checks required by the AIM Rules. 
 
      Cheryl was the first of the new management team put in place by James, 
          joining eve in December 2018 as CMO. Since joining eve, Cheryl has 
relaunched the brand and reset the marketing strategy, achieving significant 
      improvements in both brand awareness and marketing efficiency from the 
      latest campaigns. Cheryl has over 15 years experience in marketing and 
   building brands, working with leading consumer facing companies including 
       Unilever, Birds Eye Iglo and most recently The AA, where she held the 
            position of Marketing Director. 
 
            Paul Pindar, Chairman of eve Sleep commented: 
 
      "On behalf of the Board I would like to thank James for his leadership 
     through a difficult period for eve. The business has been reset and the 
    benefits of the rebuild strategy are increasingly evident. Our full year 
results in March showed that eve had been profitable at the operating level, 
   pre-central overheads, for the last six months to end February 2020, with 
    costs and cash burn greatly reduced and further substantial improvements 
 expected in the current year. I have every confidence that Cheryl will lead 
    eve to profitability, securing our sustainable future as the go-to sleep 
            wellness brand." 
 
            James Sturrock, CEO of eve Sleep commented: 
 
   "The timing is right to make this transition. The new leadership team has 
    been embedded and proven, the business and all of its processes has been 
          overhauled and right sized and eve is well advanced on the path to 
          profitability. It is clear to me that I can fully support eve in a 
   non-executive capacity and that Cheryl, as an expert in building consumer 
            brands, is well placed to take eve forward." 
 
            Cheryl Calverley, CEO designate of eve Sleep commented: 
 
 "eve has a big future. We have built a differentiated position in the sleep 
   wellness market, focused on premium, award winning products wrapped in an 
  increasingly powerful and emotionally impactful brand and we will continue 
   to lead and innovate in the category. eve has a proven management team, a 
          clear strategy and a strong cash balance to take the business into 
    profitability and deliver value for all stakeholders. The opportunity to 
 look after this incredible team of people and support them in achieving our 
            success is an absolute privilege." 
 
 The information contained within this announcement is deemed by the Company 
          to constitute inside information stipulated under the Market Abuse 
            Regulation (EU) No. 596/2014. 
 
For enquiries, please contact: 
 
eve Sleep plc 
 
James Sturrock, Chief Executive        via M7 Communications LTD 
Officer 
 
Tim Parfitt, Chief Financial Officer 
finnCap Ltd - Nominated Adviser and    Tel: +44 (0)20 7220 0500 
Broker 
 
Matt Goode / Hannah Boros - Corporate 
Finance 
 
Alice Lane - Equity Capital Markets 
M7 Communications LTD - PR/IR          Tel: +44(0)7903 089 543 
 
Mark Reed 
 
ISIN:          GB00BYWMFT51 
Category Code: BOA 
TIDM:          EVE 
LEI Code:      2138007BAC29AUXWQE6 
Sequence No.:  56652 
EQS News ID:   1015745 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

April 06, 2020 04:30 ET (08:30 GMT)

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