2nd Aug 2022 11:58
(Alliance News) - Martin Sorrell's S4 Capital PLC on Tuesday appointed Colin Day as a non-executive director, to oversee its audit and risk requirements.
London-based S4 Capital is an advertising agency started and led by Sorrell, the former chief executive of FTSE 100-listed WPP PLC.
Day has previously been non-executive chair of Premier Foods PLC, CEO of Essentra PLC and chief financial officer of both Reckitt Benckiser Group PLC and Aegis PLC. He has also served as a non-executive director of WPP.
S4 Capital said the appointment of Day as its new chair of the audit and risk committee is in line with its previously indicated plans to invest in and tighten its financial control, risk and governance processes.
In July, S4 Capital lowered full-year earnings expectations due to an increase in hiring costs. S4 now targets annual earnings before interest, tax, depreciation and amortisation of GBP120 million, below the current analyst forecast range of GBP154 million to GBP165 million. Operational Ebitda in 2021 amounted to GBP101.0 million.
Meanwhile, MightyHive Inc Co-Founder Chris Martin was also named as S4 Capital's new chief operating officer. S4 Capital acquired MightyHive back in December 2018 and the California-based advertisement agency was merged fully into Media.Monks in August 2021.
S4 Capital shares were down 2.0% to 129.90 pence each in London on Tuesday morning.
By Sophie Rose; [email protected]
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