6th May 2016 11:43
LONDON (Alliance News) - Ascential PLC on Friday said it was combining two of its operating companies, which both manage events, and naming the new company Ascential Events.
The international media company said the two operating companies were i2i Events Group, which organises international business-to-business events and trade exhibitions, and Lions Festivals, which organises five annual global and regional creativity events.
Ascential said Ascential Events will be led by current Lions Festivals Chief Executive Philip Thomas, who will take up the new role on August 1. i2i Events Chief Executive Mark Shashoua will leave the group on July 31 to "pursue other interests".
"The objective of bringing all our large-scale event products together is to set the standard of event excellence worldwide. This will be achieved through collaboration across our portfolio of leading events to bring out the best of each," said Ascential Chief Executive Duncan Painter.
"Ascential Events will sharpen the focus that has delivered substantial growth over the past four years and harness the learnings and know-how each business has built," Painter added.
Shares in Ascential were up 1.6% at 240.00 pence on Friday afternoon.
By Hannah Boland; [email protected]; @Hannaheboland
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