REG - PageGroup plc - Appointment of Chief Executive Officer Designate

PagegroupAnnouncement

18/10/2022 07:00

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RNS Number : 1797D  PageGroup plc  18 October 2022

Tuesday 18 October 2022

 

 

PageGroup plc

 

Appointment of Chief Executive Officer Designate

 

PageGroup plc, the specialist recruitment consultancy (the "Company") is
pleased to announce that Nick Kirk has been appointed as Chief Executive
Officer designate of the Company.

 

This follows the Company's announcement in April 2022 that it had commenced a
process to identify Steve Ingham's successor. The appointment of Nick Kirk
follows a thorough and rigorous selection process, led by the Nomination
Committee of the Board.

 

Nick Kirk has been appointed as Chief Executive Officer designate with
immediate effect and he will take over as Chief Executive Officer ("CEO") and
join the Board on 1 January 2023. Steve Ingham will step down as CEO and from
the Board with effect from 31 December 2022.

 

Nick has exceptional experience of the Group and the sector. He joined as a
consultant in 1995 in Michael Page Sales in the UK. He was promoted to lead
that discipline in 2007.  In 2009, he transferred across to Page Personnel
with a brief to transform the operating model. Following his success in this
role, he was promoted to Regional Managing Director in 2013 and took on the
additional responsibility of Michael Page Finance. In 2018 he became UK
Managing Director and delivered significant progress in the area of DE&I.
In January 2021, in addition to running all UK operations, Nick became
responsible for the Group's North American business. That year, he led the US
- one of the Group's Large High Potential Markets - to a record annual
performance.

 

Angela Seymour-Jackson, Chair, commented:

 

"I am delighted to announce Nick Kirk as the next CEO of PageGroup. Nick has
been critical to the success of the Group to date, having a proven track
record of leading the business in key markets such as the UK and North
America. Nick's extensive understanding of the Company and its culture will
ensure PageGroup continues on its successful growth trajectory.

 

"Steve Ingham has been an exceptional and inspirational CEO over the last 17
years. He will be missed by employees, candidates and clients alike. Under
Steve's leadership since becoming CEO in 2006, the Group has tripled its
headcount and gross profit, with operations now in 37 countries. The Board,
along with his many friends at PageGroup, wish him the very best, not least in
respect of his endeavours to raise the profile, and progression, of disability
rights in the workplace."

 

Steve Ingham commented:

 

"Having been CEO for 17 years, I understand the privilege and responsibility
of this position, and I am delighted to be handing over to Nick. Having worked
with Nick for many years I have witnessed first-hand the strength and depth of
his leadership and operational skills and his ability to deliver results. I
have no doubt that PageGroup will continue to go from strength to strength and
continue to create value for all its stakeholders under Nick's leadership."

 

Nick Kirk commented:

 

"After nearly 28 years with PageGroup, it is an incredible honour to be
appointed as the next CEO. I am excited to have the opportunity to lead this
great company and look forward to working with the Board, the Executive Team
and our highly talented workforce to drive the business further forward. I
would like to thank Steve for his support and mentorship over the years, it
has been invaluable. I know that he'll bring the same drive and focus to his
work championing the rights of people with disabilities, particularly in the
workplace. He leaves the business in great shape, being more diversified
across geographies and sectors than ever before and with a purpose-driven and
employee-centric culture, which I consider to be unique in recruitment."

 

 

ENDS

 

Enquiries:

 

 PageGroup                                              +44 (0)20 3077 8069
 Kaye Maguire, General Counsel & Company Secretary

 

 FTI Consulting                   +44 (0)20 3727 1340
 Richard Mountain / Susanne Yule

 

 

Notes:

 

1.   There is no further information in respect of Nick Kirk which would
require disclosure under Listing Rule 9.6.13.

 

2.   Nick Kirk's remuneration package comprises a base salary of £600,000,
pension contribution (payable as a cash supplement based on a level consistent
with the wider UK workforce), participation in the Executive Single Incentive
Plan ("ESIP") beginning 1 January 2023 with opportunity level of up to 375% of
salary. Full details will be provided in the Directors' Remuneration Report in
the 2022 Annual Report and Accounts.

 

3.   The information required to be disclosed under section 430(2B) of the
Companies Act 2006 in relation to Steve Ingham will be available on the
Company's website in due course.

 

4.   The Remuneration Committee has determined at the point that Steve's
employment terminates he would be treated as a good leaver under the ESIP with
associated treatment consistent with that outlined within our Remuneration
Policy.  In summary this will mean:

 

a.   Steve will be eligible to receive an award under the ESIP for
performance up to 31 December 2022.  40% of this would be delivered in cash
in March 2023, and the remaining 60% as an award over PageGroup shares, which
would vest equally in March 2025 and March 2026.

b.   Existing in-flight awards under the ESIP would continue to vest on
their scheduled vesting date, with no acceleration.  This is consistent with
the design of the ESIP, and the Policy agreed by shareholders, and is driven
by the fact that awards under the ESIP are made following completion of the
respective performance period rather than at the start of it (in contrast to a
Performance Share Plan operated by many companies).

c.   Steve will be bound by the Post-Cessation Shareholding Policy,
requiring him to retain PageGroup shares for a minimum of 24 months following
his departure from the business.

 

Full details of any awards made to Steve in respect of the ESIP for 2022,
along with treatment of all outstanding share awards and details of the
post-cessation shareholding requirement will be disclosed within the 2022
Annual Report and Accounts.

 

 

 

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