StatPro Group PLC Board change (4481B)
April 04 2017 - 2:01AM
UK Regulatory
TIDMSOG
RNS Number : 4481B
StatPro Group PLC
04 April 2017
4 April 2017
StatPro Group PLC
Rory Curran to succeed Carl Bacon as Chairman
StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the AIM
listed provider of cloud-based portfolio analysis and asset pricing
services for the global asset management industry, has been
notified by Carl Bacon, non-executive Chairman, that he plans to
step down and leave the Group on 29 November 2017. He will
therefore not seek re-election at the forthcoming AGM.
Rory Curran, currently a non-executive director, will succeed
Carl.
Carl Bacon, non-executive Chairman, commented:
"After 17 years as Chairman, the time is now appropriate to step
down. StatPro has truly been a career highlight for me and I leave
with a feeling of achievement with all that has been done since the
business listed in May 2000.
"The Board is well-established and performing well. Our flagship
product, StatPro Revolution Performance, was released in September
2016. The risk we took in transitioning the business from its
traditional software platform is receding and the foundations have
been laid from our significant investment in cloud technology to
benefit the Group in the future.
"I am delighted to pass the torch to Rory to lead the business
in this exciting period of growth."
Justin Wheatley, Group CEO, commented:
"On behalf of the Board and the whole of StatPro, I would like
to thank Carl profoundly for his huge contribution over these last
17 years.
"As Chairman, he helped frame our ideas and strategy to keep us
closely in line with industry trends. He is the guru of performance
measurement in the asset management industry.
"Having revolutionised our technology and product line under
Carl's tenure, we are in an excellent strategic position in the
increasingly technology-dependent asset management sector.
"We wish him well for the future."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 (MAR)
Enquiries:
StatPro Group plc
+44 (0) 20 8410
Carl Bacon, Chairman 9876
Panmure Gordon - Nomad
and Broker
Corporate Finance - Freddy +44 (0) 20 7886
Crossley / Fabien Holler 2500
Corporate Broking - Tom
Salvesen
Instinctif Partners
Adrian Duffield / Chris +44 (0) 20 7457
Birt 2020
About StatPro
StatPro is a global provider of award winning portfolio
analytics solutions for the investment community. The Group's
cloud-based platform provides vital analysis of portfolio
performance, attribution, risk and compliance. This multi-asset
class analytics platform helps StatPro's clients increase assets
under management, improve client service, meet tough regulations
and reduce costs.
The Group's integrated and global data coverage includes over
3.2 million securities such as equities, bonds, mutual funds, FX
rates, futures, options, OTCs, sector classifications and much else
besides. StatPro also covers most families of benchmarks including
MSCI, FTSE, Russell, NASDAQ and the open source Freedom Index.
StatPro has grown its Annualized Recurring Revenue from less
than GBP1 million in 1999 to around GBP39 million at the end of
December 2016. The Group has operations in Europe, North America,
South Africa, Asia and Australia, with hundreds of clients in 36
countries around the world. Approximately 80% of recurring revenues
are generated outside the UK. StatPro Group plc shares are listed
on AIM.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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