ITE Group PLC
03 October 2002
3 October 2002
ITE GROUP PLC
ITE Group plc ('ITE or the 'Group'), the international exhibitions specialist,
today announces the resignation of Stephen Warshaw as Group Chief Executive with
effect from Friday 4th October.
Mr Warshaw joined ITE in October 2001 and has been responsible for a
rationalisation and restructuring programme which has restored the Group's focus
on its traditionally strong sectors in its key core markets in Russia, the CIS,
Eastern Europe and Turkey. With much of this programme completed, Mr Warshaw has
decided to leave the Group in order to pursue an excellent opportunity in the
publishing industry, where he has spent the majority of his career.
Ian Tomkins, the current Group Finance Director, who has become increasingly
involved with the day-to-day operations of the business in recent years, will
now take up the position of Group Chief Executive in addition to his current
responsibilities. Mr Tomkins, who joined ITE in 1998, has been instrumental in
the restructuring programme undertaken over the past year. He will be supported
in his new role by Iain Paterson, who was appointed Non-Executive Chairman in
May this year. Mr Paterson will now assume a greater role within the Group,
particularly focusing on the development of Group strategy and options for
maximising shareholder value. A replacement Finance Director will be appointed
in due course.
The Group's current trading remains strong, and the Board is confident of
meeting market expectations for the year ended 30 September 2002.
Commenting on Mr Warshaw's resignation, Iain Paterson, Chairman, said:
'I would like to take this opportunity to thank Stephen for the considerable
contribution he has made to ITE over the past year. We have refocused the
company on its core competences and today have a profitable business with a
healthy balance sheet and an encouraging forward order book. Stephen has
achieved everything the Board expected of him at the time of his appointment and
we wish him every success as he returns to his roots in publishing.'
Iain Paterson 020 7596 5000
ITE Group plc
David Simonson/Nicola Davidson 020 7606 1244
This information is provided by RNS
The company news service from the London Stock Exchange AA