Directorate Change

RNS Number : 4617C

Reach PLC

11 October 2022

 

11 October 2022

Reach plc

Directorate Change

Reach plc (the "Company" or "Reach"), the owner of over 130 trusted national and local media brands, reaching 80% of the UK online population, today announces that the Company and Simon Fuller, Group Chief Financial Officer, have mutually agreed that it is an appropriate time for Simon to step down and move on to new challenges. Simon has contributed significantly to Reach's strategy and helped guide the business through a period of significant change and will step down from his role of Group Chief Financial Officer on 31 December 2022 and will leave the Group following a period of garden leave. Simon, will remain in his existing role until the end of this year to support the Company and ensure an orderly transition.

Simon will be succeeded by Darren Fisher as Group Chief Financial Officer whose start date will be confirmed in due course.

Darren joins us from ITV plc where he was Group Director of Finance and has been responsible for all group finance functions and operations. Additionally he is divisional CFO for the Media & Entertainment division, which contains the UK broadcast business as well as ITV's digital offerings (ITV Hub, ITVX). He has been in this role since 2020. Previously he served as Director of Finance for Micro Focus plc and Sage plc.

Commenting on the appointment, Jim Mullen Reach's Chief Executive said:

Simon has played an important role for Reach, helping to steer the business through the pandemic. On behalf of all the Board I would like to thank Simon for his valuable contribution, hard work and commitment.

I am delighted to welcome Darren to Reach. He brings a strong set of financial, operational and strategic skills to the Board. I am confident that he will make a strong contribution to our leadership team and the Group.  Darren is joining Reach at an important time, and I very much look forward to working with him to continue to execute our Customer Value strategy."

There is no other information to be disclosed under paragraph 9.6.13 R of the Listing Rules in relation to the appointment of Darren Fisher.

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for arranging for the release of this announcement on behalf of the Company is Lorraine Clover, Group Company Secretary

Additional Information:

1.  Darren Fisher will be paid in accordance with the Company's Directors' Remuneration Policy. Full details of Darren's remuneration arrangements will be set out in the Annual Report and Accounts for the year ended 25 December 2022 .

2.  Simon Fuller will be treated in accordance with the Company's Directors' Remuneration Policy and the terms of his service contract. Further details will be disclosed on Reach plc's website in compliance with Section 430(2B) of the Companies Act 2006 and in the Directors' Remuneration Report.

LEI:  213800GNI5XF3XOATR61

Classification:  2.2 Inside Information disclosed under article 7 of the  Market Abuse Regulation

 

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