REG - Gattaca PLC - Board Succession

GattacaAnnouncement

15/03/2022 07:00

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RNS Number : 7361E  Gattaca PLC  15 March 2022

15 March 2022

 

Gattaca plc

 

("Gattaca" or the "Group")

 

 

Board Succession

 

 

Gattaca plc, the specialist Engineering and Technology recruitment solutions
business, announces that Kevin Freeguard will be stepping down from the Board
at the end of March this year and retire from Gattaca at the end of April
2022. Having joined the Group in October 2018, it was Kevin's original
intention to leave at the end of this year but he felt, and the Board agreed,
that given the scale of further improvement required in the business, an
earlier change of leadership was in the Group's interest.

 

Having been with the Group since June 2017 and serving under two CEOs, Salar
Farzad has also agreed that he will leave Gattaca at the same time, stepping
down from the Board at the end of March and leaving Gattaca at the end of
April 2022. He and the Board believe that the business will be best served by
a CFO who can partner with the new CEO for the long term.

 

In line with the Group's succession plan, Matt Wragg, currently Chief
Customer Officer, is appointed to succeed Kevin as Chief Executive Officer.
Matt will join the Board as CEO with effect from 1 April 2022. Matt has been
with Gattaca for 20 years and has substantial knowledge of the recruitment
industry and a deep understanding of Gattaca. He has been a member of the
Management Board since 2016.

 

As part of that succession plan, Oliver Whittaker will succeed Salar as CFO,
subject to the successful completion of due diligence by the Group's Nominated
Advisor ('Nomad'). Oliver joined Gattaca in 2017 as Group Director of
Financial Planning where he has actively supported the Board and works closely
with Matt. Oliver was previously UK Finance Director for Fitness First, has
held roles with Serco and IBM, and is an ACA qualified accountant.

 

 

Patrick Shanley, Chairman, said:

 

"The Board would like to thank Kevin and Salar for their leadership over the
last 4/5 years, including the challenges during the pandemic.  They have been
instrumental to the significant reduction in net debt, the establishment of
our new operating model and implementing an integrated global technology
platform. Thanks to their enormous contribution, the Group is significantly
stronger than it was 5 years ago.

 

Whilst Gattaca has been growing, we recognise that this growth is not in line
with that of our market. Matt and Oliver have a thorough understanding of the
business and have worked together for several years. They are well-positioned
to deliver the necessary short-term improvement and develop the business over
the long term."

 

 

Matthew Howard Wragg, 42, is currently a director of, or during the past five
years has been a director of, the following companies:

 Current directorships/partnerships          Past directorships/partnerships
 Cappo Inc                                   Gattaca Solutions Limited
 Gattaca Information Technology Services SL  Matchtech Group (UK) Limited
 Networkers Inc
 Networkers International (Canada) Inc.
 NWI de Mexico de RL de CV

 

Matt is currently holding 30,497 ordinary shares in the capital of the
Company, equivalent to 0.09 per cent. of the Company's issued share capital.
Save as set out in this announcement, there are no further details required to
be disclosed pursuant to AIM Rule 17 or Schedule 2(g) to the AIM Rules in
respect of Matt Wragg.

 

For further information please contact:

 

 Gattaca plc                                 +44 (0) 1489 898989
 Kevin Freeguard, Chief Executive Officer

 Salar Farzad, Chief Financial Officer

 Liberum Capital Limited (Nomad and Broker)  +44 (0) 20 3100 2000
 Lauren Kettle

 Robert Morton

 Citigate Dewe Rogerson
 Jos Bieneman                                +44 (0) 20 7638 9571

 Lucy Eyles

 

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