REG - Telecom Plus PLC - Board changes

Telecom PlusAnnouncement

21/11/2023 07:00

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RNS Number : 0546U  Telecom Plus PLC  21 November 2023

Telecom Plus PLC

 

Board changes

 

Telecom Plus PLC (trading as Utility Warehouse or UW), which supplies a wide
range of utility services focussed on domestic customers, today announces that
Andrew Lindsay has informed the Board of his decision to step down as Co-CEO
and from the Board to pursue other interests after 16 years with the
Company.

 

Stuart Burnett will become sole CEO from the AGM next summer.  He joined the
business in 2016 and has been Co-CEO with Andrew since 2021.  Andrew will
subsequently remain with the business on a part time basis for at least the
next 3 years, with a focus on supporting and further growing our Partner
community.

 

Charles Wigoder, Non-Executive Chairman said:

"I would like to thank Andrew for the substantial contribution he has made to
the success of the business over the past 16 years.  I am delighted that he
has agreed to remain involved on an ongoing basis, sharing his considerable
experience throughout our Partner community within which he has developed many
strong relationships.

 

"This seamless succession leaves the business strongly placed for the next
phase of growth under Stuart's proven leadership, as we continue to scale the
business towards 2m customers and beyond."

 

Andrew Lindsay, Co-CEO said:

"It has been a privilege to work with everyone at UW over the years.  The
business is in better health than ever - in terms of financial and operational
performance, our competitive customer proposition and our compelling Partner
opportunity.

 

"As we rapidly approach the 1 million customer milestone, the organic growth
opportunity remains vast, and I am excited that I will continue to be involved
with the Partner community and to support them in achieving their personal
ambitions through UW as it grows.

 

"Having shared the CEO position with Stuart for 2 years I am wholly confident
that he and the team around him have the experience and skills to continue
growing the business whilst maintaining our track record of generating strong
financial returns for shareholders."

 

Stuart Burnett, Co-CEO said:

"After working alongside Andrew as co-CEO for the past two years, I am looking
forward to leading UW through its next phase of growth.  The opportunity for
UW to significantly increase market share across all of its services, and
accelerate the trajectory from 1 million to 2 million customers, has never
been greater and the business continues to perform very strongly, with a real
sense of momentum on all fronts."

 

For more information please contact:

Telecom Plus PLC

Stuart Burnett, co-CEO
 
                              020 8955 5000

Andrew Lindsay, co-CEO

Nick Schoenfeld, CFO

 

Peel Hunt

Dan Webster / Andrew Clark
                                            020 7418
8900

Deutsche Numis
Mark Lander / Joshua Hughes
                                         020 7260 1000

For investor relations:

Julian Wais
 
         07720 999764

 
 
 jwais@uw.co.uk

For media relations:

Lansons Communications LLP

Tom Baldock / Ed Hooper
                        07860 101715 / 07783 387713
 
 
          utilitywarehouse@lansons.com
(mailto:utilitywarehouse@lansons.com)

 

 

About Telecom Plus PLC ("Telecom Plus"):

Telecom Plus, which owns and operates Utility Warehouse (UW), is the UK's
leading multiservice utility provider, offering bundled household services -
energy, broadband, mobile and insurance - through one account.

Customers benefit from the convenience of a single monthly bill, consistently
good value across all their utilities and exceptional service levels.

Customers sign up through a network of local UW Partners all across the
country. These Partners recommend UW's services to friends, family and people
they know by word of mouth. Telecom Plus is listed on the London Stock
Exchange (Ticker: TEP LN).  For further information please visit
telecomplus.co.uk

LEI code: 549300QGHDX5UKE58G86

Cautionary statement regarding forward-looking statements

This Announcement may contain "forward-looking statements" with respect to
certain of the Company's plans and its current goals and expectations relating
to its future financial condition, performance, strategic initiatives,
objectives and results. Forward-looking statements sometimes use words such as
"aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal",
"believe", "seek", "may", "could", "outlook" or other words of similar
meaning.  By their nature, all forward-looking statements involve risk and
uncertainty because they are based on numerous assumptions regarding the
Company's present and future business strategies, relate to future events and
depend on circumstances which are or may be beyond the control of the Company
which could cause actual results or trends to differ materially from those
made in or suggested by the forward-looking statements in this Announcement,
including, but not limited to, domestic and global economic business
conditions; market-related risks such as fluctuations in interest rates; the
policies and actions of governmental and regulatory authorities; the effect of
competition, inflation and deflation; the effect of legislative, fiscal, tax
and regulatory developments in the jurisdictions in which the Company and its
respective affiliates operate; the effect of volatility in the equity, capital
and credit markets on profitability and ability to access capital and credit;
a decline in credit ratings of the Company; the effect of operational risks;
an unexpected decline in sales for the Company; any limitations of internal
financial reporting controls; and the loss of key personnel.  Any
forward-looking statements made in this Announcement by or on behalf of the
Company speak only as of the date they are made.  Save as required by the
Market Abuse Regulation, the Disclosure Guidance and Transparency Rules, the
Listing Rules or by law, the Company undertakes no obligation to update these
forward-looking statements and will not publicly release any revisions it may
make to these forward-looking statements that may occur due to any change in
its expectations or to reflect events or circumstances after the date of this
Announcement.

 

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