REG - World Chess PLC - Board Changes

World ChessAnnouncement

17/02/2025 07:00

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RNS Number : 2467X  World Chess PLC  17 February 2025

17 February 2025

World Chess Plc

("World Chess" or the "Company" or the "Group")

Board Changes

World Chess (LSE: CHSS), a leading chess organisation committed to enhancing
the global mass market appeal of chess by introducing a variety of innovative
chess-related activities, announces that following a review of its board
structure as part of its corporate governance procedures, it has been resolved
that changes to the composition of the board will be made during 2025.

As part of these changes, it has been agreed that Graham Woolfman, the
Company's Non-Executive Chairman, will step down with immediate effect and
Neil Rafferty, a current Non-Executive Director, will be appointed as Interim
Chairman. The process to recruit a new Chair with experience of the digital
and sports development sectors will commence immediately.

Mr Woolfman will continue to assist the CEO and Board as an advisor to the
Company during a transition period, and in support of its development plans
going forward. These plans include the strengthening of the executive
management team, which will also support the company's development and growth
plans for 2025 and beyond.

Ilya Merezon, CEO said "I would like to thank Graham on my own and the Board`s
behalf for his contribution both before the IPO,and since as Chairman, and we
will welcome his continued involvement in an advisory capacity. I have
personally learned a lot from him and look forward to working with him in his
new capacity"

Graham Woolfman commented: " I am pleased to have been able to contribute to
the Board of World Chess as Chair during the period since admission to the
London Stock Exchange in April 2023. I believe now is an appropriate stage in
the Company`s journey to step down from the Board and am pleased to continue
to provide support during a period of recruitment and transition."

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

For more information, visit: www.worldchess.com (http://www.worldchess.com/)
or contact:

 

 

 World Chess                                    merenzon@worldchess.com

 Ilya Merenzon, CEO

 Novum Securities Limited - Financial Adviser  +44 (0) 20 7399 9400

 David Coffman / Anastassiya Eley

 

Notes to Editors

About World Chess Plc

World Chess (LSE: CHSS) is a London-based chess gaming and entertainment
company and Fédération Internationale des Échecs ('FIDE') official
commercial partner. World Chess organised the FIDE Championship Matches in the
USA, and the UK, and revolutionised the sport by signing the biggest media
partnerships in history. World Chess develops Armageddon, the chess league for
prime-time television. World Chess also runs FIDE Online Arena, the exclusive
official chess gaming platform. More at worldchess.com
(https://worldchess.com/) .

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