REG - GB Group PLC - Chair Succession

GBAnnouncement

16/06/2022 07:00

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RNS Number : 0557P  GB Group PLC  16 June 2022

GB GROUP PLC

("GBG", the "Group" or the "Company")

 

Chair succession

 

GBG is pleased to announce the appointment of Richard Longdon to its Board as
its next Chair and Non-Executive Director with effect from 1 September 2022.
He will replace David Rasche, who is stepping down from the Board and retiring
after twelve years with the Group. David will remain an active member of the
Board until 30 September 2022 to ensure an orderly handover.

 

The Board would like to thank David Rasche for his contribution and support.
As Chair since December 2010, David's counsel and stewardship have played a
significant and important role in guiding the success of the business. During
David's tenure as Chair, GBG has completed 15 acquisitions, the Group's market
capitalisation has grown from

c. £24m to c. £1.2bn today and the Company has developed into a global
leader in digital identity software.

 

Richard Longdon will join GBG following a highly successful career in the
technology sector. He spent 33 years with AVEVA Group where he was Chief
Executive Officer for 17 years and has held a number of non-executive director
and chair roles since. His global leadership experience will enable him to
lead the Board through the next stages of the Company's growth and assist
management in shaping the future strategy for the business.

 

Commenting on his new role, Richard Longdon said:

"I am delighted to join GBG at an exciting time. It is clear that the business
has the ambition and capabilities to execute on the attractive long-term
growth opportunities in its markets. This is underpinned by the talent,
passion and culture of the team. I look forward to working with Chris Clark,
the Executive team and the rest of the Board,  to continue building on the
success achieved to date as I lead the Board with a determination to continue
advancing the business for the benefit of all our stakeholders."

David Rasche, departing as Chair, said:

"I am proud of what GBG has achieved during my time as Chair, particularly the
journey of significant growth which has seen GBG become the largest pure-play
identity software solutions provider on the public markets. It has been a
privilege to spend twelve enjoyable and successful years with this great
business, it is now time to hand on the baton of Chair."

Chris Clark, Chief Executive of GBG, said:

"I want to express my personal thanks to David Rasche. His commitment, passion
and advice have been invaluable since I joined GBG five years ago. He has led
the Board through transformational change as the business has grown to become
an industry leader while creating significant value for shareholders. He will
depart with our best wishes for the future.

We look forward to welcoming Richard as we continue our ambitious growth
journey. Richard's appointment reflects his calibre and suitability for the
role of leading the GBG Board. He brings a deep technology understanding with
proven experience of successful expansion in the sector. We will benefit
hugely from his guidance and insight as GBG continues to execute upon its
global growth strategy."

 

In accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules
for Companies, Richard Longdon (aged 64) holds or has held in the past 5 years
the following directorships and partnerships:

 

Current:

Ideagen plc

Murgitroyd Group Limited

Project Petra Topco Limited

Project Petra Bidco Limited

Invesco Software Holdings Limited

Rovco Limited

20th Century Motor Cars Limited

 

Past:

Fidessa Group Holdings Limited
Alfa Financial Software Holdings plc
Flying Kiwi (Holdings) Limited
Siemens Process Systems Engineering Limited

Prometheus Group Inc

Mr Longdon holds no shares in the Company.

 

There is no further information required to be disclosed in respect of the
above appointment pursuant to Schedule 2 (g) of the AIM Rules for Companies.

 

For further information, please contact:

 GBG

 Annabelle Burton, Company Secretary   +44 (0) 1244 657333

 Richard Foster, Investor Relations    +44 (0) 7816 124164

 Peel Hunt LLP

(Nominated Adviser and Broker)

                                     +44 (0) 20 7418 8900
 Edward Knight & Paul Gillam

 Tulchan Communications LLP

 James Macey White & Matt Low          +44 (0) 20 7353 4200

                                       GBG@tulchangroup.com

 Website                               www.gbgplc.com/investors

About GBG

We are the experts in digital location, identity and managing fraud risk and
compliance. Helping organisations across the globe eliminate customer friction
and fraud from their digital experiences. GBG develops and delivers digital
identity, address verification, fraud prevention and compliance software to
businesses globally.

Through the combination of the latest technology, the most accurate data and
our unrivalled expertise, GBG helps organisations ranging from start-ups to
the largest consumer and technology brands in the world deliver seamless
experiences, so their customers can transact online with greater confidence.

To find out more about how we help our customers establish trust with their
customers visit www.gbgplc.com (http://www.gbgplc.com) and follow us on
LinkedIn and Twitter @gbgplc.

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