Board Changes
September 27 2007 - 3:02AM
UK Regulatory
RNS Number:5767E
Thomson Intermedia PLC
27 September 2007
27 September 2007
Thomson Intermedia plc
Board Changes
Thomson Intermedia plc ("Thomson Intermedia" or the "Group", AIM: THN), a
leading provider of media intelligence, is pleased to announce the following
Board changes.
Michael Greenlees, who joined the Board as a Non-Executive Director in April
2007, will become Chief Executive with effect from 10 October 2007. At the same
time, Steve Thomson and Sarah Jane Thomson will step down as joint Chief
Executives but will remain on the Board as Non-Executive Directors. In
addition, Nick Manning will join the Group to take up the newly-created role of
Chief Operating Officer with immediate effect.
Michael Greenlees has over thirty years experience within the advertising
industry. He was a founder of GGT (Gold Greenlees Trott) in 1980 and, following
its acquisition by Omnicom Inc. in 1998 for #143m, became President and Chief
Executive of TBWA Worldwide and subsequently Executive Vice President and Board
Member of Omnicom Inc.
Michael is currently special adviser to General Atlantic, one of the world's
leading private equity groups, where he specialises in digital media and on-line
marketing. He also serves on the Board of Hewitt Associates, a global human
resources outsourcing and consulting firm, where he is Chairman of the
Compensation and Leadership Committee and member of the Nominations and
Governance Committee. He is a member of the Governing Council of Warwick
University.
Nick Manning, 50, was co-founder of Manning Gottlieb Media (now known as Manning
Gottlieb OMD) one of the most highly respected and fastest growing media
specialists in the UK. In 1997, Manning Gottlieb Media was sold to Omnicom Inc.
and in 2004 Nick Manning became Chief Executive of OMD Group Ltd, the second
largest media agency group in the UK.
Michael Higgins, Chairman commented:
"The founding partners have long recognised the need to strengthen the
management team in order to exploit the full potential and opportunity of this
business. The opportunities that we identified at the preliminary results
continue to give us confidence in the long term prospects for the business.
"We are delighted to have a new management team in place to take over the reins
from the founders Steve and Sarah Jane. Michael and Nick are two of the most
respected members of the media community and the fact that we have been able to
attract executives of this calibre speaks volumes about both the quality and the
future potential of this outstanding Group.
"It is impossible to overstate the contribution that Steve and Sarah Jane have
made to the creation and development of Thomson Intermedia since founding the
Group ten years ago. It was their vision, passion and drive that made Thomson
Intermedia what it is today, and as the Group's largest shareholders, I am very
pleased that they have agreed to continue to support the Group as Non-Executive
directors."
Michael Greenlees, said:
"I am delighted to be given this opportunity to steer Thomson Intermedia forward
into its next stage of growth. The media landscape is changing at breathtaking
pace, and with the explosion in online advertising, advertisers increasingly
seek independent advice in order to ensure maximum return on their investment.
"I believe Thomson Intermedia is ideally placed to become a world leader in
media advisory services, and the newly created role of Chief Operating Officer
will help ensure that we harness our global platform to achieve maximum
potential for shareholders.
"Nick Manning and I share the founders' vision and together look forward to
working with Sarah Jane and Steve to fully exploit the significant market
opportunities."
During the last five years, Nick Manning has been a director of OMD Group Ltd,
OMD International Ltd, OPera Media Ltd and Manning Gottlieb OMD Ltd. He does
not hold any current directorships. No further disclosures are required to be
made under Schedule 2, paragraph (g) of the AIM Rules.
Although current trading continues in line with expectations there will be a
small cost increase of #0.3 million resulting from the Board changes. The Board
continues to expect a material second half weighting.
Enquiries:
Thomson Intermedia
Michael Higgins, Chairman 020 8466 2906
Michael Greenlees 020 7457 2020
Sarah Jane Thomson 020 8466 2906
Landsbanki
Shaun Dobson/Fred Ward 020 7426 9000
College Hill
Sara Musgrave/Adrian Duffield 020 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
END
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