24th Aug 2009 07:00
24 August 2009
DRV
Driver Group plc
("Driver" or "the Group")
Announces
Changes to Board and Group Structure
The Directors of Driver are pleased to announce both a reorganisation of the Board and changes to the Group's operational structure. These changes will strengthen the business and help to ensure that Driver is well positioned for on-going growth. The Board and operational changes are outlined below and will take effect on 1 October 2009.
In line with previous practice, Driver expects to issue an update on trading, for the year to 30 September 2009, in October, prior to entering its close period.
Board Reorganisation
From 1 October 2009, the following changes will take effect.
Michael Davis will step down as Non-executive Chairman on 30 September 2009, having served in that capacity in the four years since the Group's flotation. He will remain on the Board and assume the role of senior Non-executive Director. Michael will also retain his roles as Chair of the Audit Committee and Chair of the Remuneration Committee.
Steve Driver, currently Chief Executive Officer, will become Executive Chairman. As Executive Chairman, Steve will focus primarily on strategic initiatives, including acquisitions and alliances and continue to play a key role in the development of strategic client relationships.
Dave Webster, currently Chief Operating Officer, will become Chief Executive Officer. The position of Chief Operating Officer will be withdrawn. Dave was appointed to the Board of Driver's core business, Driver Consult, in 2002 and subsequently to the Group's Board in 2004. He has been instrumental in the Group's successful development to date and will continue to lead the Group's day-to-day operations worldwide.
Operational Changes
The Board has made significant changes to the Group's existing operational structure and reporting lines. Five new business units have been formalised and will be led by highly experienced managing directors.The five business areas comprise: Middle East; International; Expert Services; Consultancy Services (UK); and Project Services.
The respective managing directors of each business area are internal appointments. Each has substantial industry expertise and has been involved with the development of Driver over a number of years.
The Directors are confident that this re-structuring will enable the Group to pursue its growth strategy more effectively and allow the Group to utilise more fully the skills and experience of its senior management.
For further information please contact:
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Driver Group plc Steve Driver, Chief Executive Dave Webster, Chief Operating Officer |
Tel: 01706 223 999 |
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Zeus Capital Limited (NOMAD) Alex Clarkson/Nick Cowles |
Tel: 0161 831 1512 |
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WH Ireland Limited (Broker) Gary Marshall |
Tel: 0113 394 6600 |
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Biddicks Katie Tzouliadis |
Tel: 020 7448 1000 |
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