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RNS Number : 9813A Merit Group PLC 26 January 2024
26 January 2024
Merit Group plc
("Merit", the "Company" or "the Group")
Board Changes
Merit Group plc (AIM: MRIT), the data and intelligence business, announces the
resignation of its Chief Executive Officer, David Beck, and the appointment of
Philip Machray as CEO, a position he will combine with his current CFO
responsibilities. David will step down from the Board with immediate effect.
Mark Smith, Chairman of Merit, said;
"David joined the company as CEO in 2021 guiding the recovery following the
difficult Covid impacted years and more recently led the restructuring of the
Group's operations completed in 2023. The Group is now focussed on two core
operating businesses both of which are growing and profitable. The Group
continues to trade in line with market expectations.
"The Board is grateful for the leadership David has shown; the recovery in the
Group's trading, prospects and value all reflect the hard work he has put in
and the team he has helped recruit. Philip Machray has worked alongside David
throughout the last two years and we are fortunate to have a natural successor
who the Board is confident will continue the good progress already achieved."
David Beck commented;
"With the Group's restructuring complete it is the right time for me to move
on, I am pleased to be leaving the business in good health and to be able to
hand the reins over to Philip Machray who has already contributed so much to
the Group's turnaround. I am confident that Phil and Con Conlon, the other
Executive Director, will continue to drive the shareholder value agenda which
has already more than doubled the Group's equity value in the last twelve
months."
For further information, please contact:
Merit Group plc
Mark Smith - Chairman 020 7593 5500
www.meritgroupplc.com (http://www.meritgroupplc.com)
Canaccord Genuity Limited (Nomad and Broker) 020 7523 8150
Bobbie Hilliam
Harry Pardoe
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