REG - Mind Gym PLC - Directorate Changes

Mind GymAnnouncement

01/12/2023 07:15

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RNS Number : 3674V  Mind Gym PLC  01 December 2023

1 December 2023

Mind Gym PLC

("Mind Gym", the "Group" or the "Company")

Directorate Changes

CEO Succession and Board Changes

MindGym (AIM: MIND), the global provider of human capital and business
improvement solutions, announces changes to its leadership team as part of the
planned evolution from being a founder led business.

Appointment of Christoffer Ellehuus as CEO designate

Following an extensive search process, which commenced early in the year, and
after consultation with key institutional shareholders, the Board is delighted
to announce the appointment of Christoffer Ellehuus as CEO designate.
Christoffer is currently at Korn Ferry, where he is President of Digital and
leader of the firm's Global Sales Effectiveness Practice. He will join MindGym
on 8th January 2024, transitioning to CEO by the time of the AGM in July
2024.  At this point, subject to regulatory approval, he will be appointed to
the Board of Directors.

On Christoffer's appointment to the Board as CEO, Octavius Black will move to
the role of Executive Chair. Octavius's executive responsibilities will be
focused on increasing MindGym's market presence, further development of
product and thought leadership and building relations with major clients.

Summary of further board changes

In conjunction with the CEO succession, a series of further board changes are
planned, to retain strong corporate governance, providing the right balance of
skills, experience and independence, and to support the delivery of MindGym's
strategy:

·    Chair:

o  Ruby McGregor-Smith's three-year term as Chair ends in July 2024

o  Octavius Black, the Group's current CEO, will, at this point, transition
to Executive Chair

·    Non-Executives Directors:

o  Sally Tilleray will continue as Senior Independent Director, Trevor
Phillips as Independent Non-Executive Director, and David Nelson as
Non-Executive Director

o  Joanne Cash will not seek re-appointment at the AGM and will step down
from the role of Non-Executive Director at that juncture

o  A new independent Non-Executive Director will be appointed by no later
than the AGM

Dominic Neary and Sebastian Bailey will continue in their current executive
roles. Following the board restructure, the Board will consist of four
Executive directors, including Octavius Black as Executive Chairman, alongside
four Non-Executive Directors, three of whom will be independent.

Octavius Black, Chief Executive Officer of Mind Gym, said:

"I am delighted that we have appointed Christoffer Ellehuus as CEO Designate
as part of our plan to reduce founder dependency and drive scalable growth.

Christoffer has a highly complementary skill set to the existing leadership
team.  He comes to MindGym with a track record of successful commercial,
product and digital leadership in our market, including as CEO of a global
learning business, and has worked and lived in both US and EMEA, our two core
markets.

MindGym has remarkable proprietary IP built over 23 years and tested with over
5 million business leaders, high levels of repeat revenue from a roster of
FTSE-100 and S&P-100 companies, and a unique strategy that integrates
live, virtual and digital, fuelled by data.

Christoffer's arrival brings a strong commercial discipline, which gives us
even more confidence that we can convert these signature strengths, into
strong financial performance in the years ahead.

Whilst they will remain in seat until the AGM, I would like to thank Joanne
and Ruby for their significant contribution to MindGym.  Their leadership has
been invaluable."

 

Enquiries:

 Mind Gym plc                                 +44 (0)20 7376 0626

 Octavius Black, Chief Executive Officer

 Dominic Neary, Chief Financial Officer

 Liberum (Nominated Adviser and Sole Broker)  +44 (0)20 3100 2000

 Nick How

 Edward Mansfield

 MHP Group (for media enquiries)              +44 (0)20 3128 8100

 Reg Hoare                                    mindgym@mhpgroup.com

 Katie Hunt

 Veronica Farah

 

About Mind Gym

Mind Gym is a company that delivers business improvement solutions using
scalable, proprietary products which are based on behavioural science. The
Group operates in three global markets: business transformation, human capital
management and learning & development. Mind Gym is quoted on the London
Stock Exchange Alternative Investment Market (ticker: MIND) and headquartered
in London. The business has offices in London, New York and Singapore. Further
information is available at www.themindgym.com (http://www.themindgym.com)

 

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("MAR") EU no.596/2014. Upon the publication of this announcement via
Regulatory Information Service ("RIS"), this inside information is now
considered to be in the public domain.

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