St. Ives PLC Management succession (6806S)
June 27 2018 - 2:00AM
UK Regulatory
TIDMSIV
RNS Number : 6806S
St. Ives PLC
27 June 2018
This announcement contains inside information
St Ives PLC
("St Ives" or "the Group")
Management succession
Matt Armitage has informed the Board of his intention to retire
as CEO of St Ives at the end of the current financial year. He will
be succeeded by J Schwan, who has been with the Group for three
years, serving previously as the CEO of Solstice, the Group's
largest strategic marketing business, and more recently as the
Group's first Chief Digital Officer.
The Board proposes to appoint J to the CEO role effective from 4
August 2018. Matt will continue in his current position until this
date and will remain with the Group as a special adviser for twelve
months thereafter to assist with the transition.
Matt joined St Ives as CFO in September 2007 before being
appointed CEO in August 2014, and has been integral in the
transformation of the Group over his 11 years on the Board. Under
Matt's leadership, St Ives recently announced the disposal of its
last remaining print business; a significant milestone in an eight
year journey to transform the Group from a business focused
entirely on print, to one focused exclusively on next generation
strategic business services.
J began his career in Accenture's emerging technologies lab and,
after leaving Accenture, went on to found Solstice, a 400+ person,
digital innovation firm with offices in Chicago, New York and
Buenos Aires. Over the years Solstice has received many awards for
its growth, innovation and for being nationally recognized as a
"best place to work". J is in the Chicago Entrepreneurship Hall of
Fame, is an EY Entrepreneur of the Year Finalist, was recently
named in Crain's Tech 50 and is a University of Illinois College of
Engineering Young Alumnus of the Year.
Following the acquisition of Solstice by St Ives and the
successful completion of an earn-out, J has 7,432,768 St Ives
shares (either directly or through family holdings) which
represents 5.03% of the shares in issue.
Richard Stillwell, Chairman, commented:
"Matt has been the architect of the transformation of St Ives.
He has successfully steered the Group through a period of
unparalleled change. The Group owes him a significant debt of
gratitude for his steadfastness and focus during what was sometimes
a challenging journey. Thanks to him, the Group is now poised for a
period of exciting growth in sectors that are characterised by
innovation, technology and customer experience.
The Board is delighted to be able to appoint J as Matt's
successor. He has unparalleled experience in delivering digitally
based transformation services in a high growth environment. Since
January 2018 he has been the Group's Chief Digital Officer and he
has already made a considerable impact. We are confident in his
ability to develop and implement a strategy for St Ives to become a
world leading, digital business transformation Group."
Matt Armitage, commented:
"Phase one of St Ives' transformation is now complete and a new,
exciting chapter is about to begin. I'm honoured to have played a
role in defining and creating an entirely new Group and I'm
delighted to be handing over the reins to J. I wish him and the
Group every success for the future, while I'd also like to thank my
colleagues at St Ives for their hard work, dedication and support
over the years."
J Schwan, commented:
"I am incredibly privileged to lead the next chapter of the
Group's transformation and growth; a journey which Matt started
over eight years ago. Matt has been a great mentor to me over the
past three years, and I look forward to building on his vision. I
am excited to continue serving the St Ives team and the leadership
of our fantastic businesses as we work to become a global leader in
digital business transformation services."
There is no information that is required to be disclosed under
LR 9.6.13.
- Ends -
For further information please contact:
St Ives plc 020 7928 8844
Richard Stillwell
MHP Communications 020 3128 8788
Tim Rowntree / Giles Robinson / Luke Briggs
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END
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