Gateley (Holdings)

CEO Succession Plan

RNS Number : 0097F
Gateley (Holdings) PLC
10 July 2019
 

10 July 2019

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN

 

GATELEY (HOLDINGS) PLC

("Gateley", the "group" or the "Company")

AIM: GTLY

 

CEO SUCCESSION PLAN

 

The Board of Gateley, the legal and professional services group, is pleased to announce that Rod Waldie, who is currently the Senior Office Partner of the Manchester office, as well as a key member of the group's management board and head of the national property team, has been chosen to succeed Michael Ward as the new Chief Executive Officer ("CEO"), when Michael stands down from the role on 30 April 2020. After standing down, Michael will remain a main board director and will be responsible for the non-legal businesses within the group. He will also retain a significant shareholding in Gateley for the foreseeable future.

 

Succession planning is an important part of Gateley's corporate governance and is key to ensuring that the prosperity and collaborative culture of the business are maintained in the long term.  This early addressing and announcement of the group's succession plans has been undertaken to enable a managed and orderly handover to take place. As part of its deliberations, the Board conducted a thorough review of the attributes required of a new CEO and agreed that an internal appointment was the best way to ensure the continuation of the group's sustainable growth strategy, as well as preserving its culture.

 

Rod has been a key member of the group's management board since joining the business via the acquisition of the Manchester office of Halliwells LLP in 2010. Rod is the Senior Office Partner of the Manchester office, leads the group's national property team and has been involved in the successful integration of a number of Gateley's post IPO acquisitions including Gateley Capitus, Gateley Hamer and GCL Solicitors.

 

Rod will shadow Michael on all CEO related activities in the run up to his official appointment and will join the Board as CEO on 1 May 2020. He will be introduced to investors at the group's final results roadshow in July 2019 and will attend the Company's AGM on 19 September 2019 at which all attendees will have the opportunity to meet him.

 

Rod's appointment remains subject to the completion of regulatory due diligence checks.

 

Nigel Payne, Non-executive Chairman of Gateley, said:

 

"We are delighted that Rod has agreed to lead the business, when Michael stands down as CEO in April next year.  We are also delighted that after standing down, Michael's commitment to the group will continue both as an executive director and as a significant shareholder.

 

"Our choice of an internal appointment to succeed Michael and our early addressing of succession allow for a smooth transition to a highly successful and respected colleague, who already knows the business, understands our collaborative culture, has excellent client relationships and is committed to the group's growth strategy."

 

 

Enquiries:

 

Gateley (Holdings) Plc

 

Neil Smith, Finance Director

Tel: +44 (0) 121 234 0196

Nick Smith, Acquisitions Director and Head of Investor Relations

Tel +44 (0) 20 7653 1665

Cara Zachariou, Head of Corporate Communications

Tel +44 (0) 121 234 0074

Mob: +44 (0) 7703 684 946

 

 

finnCap - Nominated adviser and broker

Tel +44 (0) 20 7220 0575

Matt Goode / James Thompson (Corporate Finance)

 

Andrew Burdis (ECM)

 

 

 

N+1 Singer - Joint broker

Tel +44 (0) 20 7496 3000

Richard Lindley / Peter Steel (Corporate Finance)

 

Rachel Hayes (Corporate Broking)

 

 

 

Belvedere Communications Limited - Financial PR

 

Cat Valentine ([email protected])

Mob: +44 (0) 7715 769 078

Llew Angus ([email protected])

Mob: +44 (0) 7407 023 147

Keeley Clarke ([email protected])

Mob: +44 (0) 7967 816 525

 


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