16th Mar 2006 07:03
Unite Group PLC16 March 2006 Date: 16th March 2006 On behalf of: UNITE Group plc ("UNITE" or "the Company") Embargoed until: 0700hrs The UNITE Group plcBoard Changes The Board of The UNITE Group plc, the UK's leading student hospitality company,today announces its decision to appoint Mark Allan as Chief Executive witheffect from the end of 2006. Mark, currently UNITE's Chief Financial Officerwill replace Nicholas Porter who has decided to step down at the end of the yearand into the new role of non-executive Deputy Chairman. The appointment of a newCFO will be announced in due course. Mark, 33, joined UNITE as Corporate Finance Director in 1999 from KPMG, becomingthe Group's Commercial Director and a member of the Operations Board in 2001. Hejoined the Group Board as CFO in November 2003. Over the past three years Markhas worked very closely with Nicholas in developing the Group's strategy andvision and establishing operational plans to deliver that vision. Since hisappointment as CFO, Mark has led the development and execution of the Group'sinvestment and financing strategy, whilst also leading the team developing UNITE's future systems platform. Nicholas, 36, founded UNITE in 1991. In June 1999 UNITE was listed on AIM,moving to the Official List in April 2000. UNITE was elevated to the FTSE 250index in June 2005. Commenting on his decision, Nicholas Porter said: "As Founder and Chief Executive of UNITE I am immensely proud of everything wehave achieved over the years. We have proven our business model, established anew asset class and developed a sustainable business platform to capitalise onour significant market opportunities. Having built an exceptional managementteam, I have decided that the time is right, both for me and for the business,to step down and in the future to pursue other commercial and charitableinterests, whilst continuing to provide focused support to the Company asnon-executive Deputy Chairman. I am delighted that the Board has chosen Mark asmy successor from the end of the year to lead our team into UNITE's nextexciting phase." Commenting on the announcement, Geoffrey Maddrell, Chairman of UNITE, said: "On behalf of the Board and all the stakeholders in UNITE, I would like to paytribute to the phenomenal amount that has been achieved in the period since Nickfounded UNITE in 1991. I am very pleased that Nick will continue to play animportant role as non-executive Deputy Chairman, following an orderly transitionof his current role to Mark. In his new role, Nick will continue to providevaluable input to the business with particular focus on targeted support for ourdevelopment teams and through his extensive network of contacts in the HigherEducation sector. "In reaching its decision to appoint Nick's successor, the nominations committeeof the Board, advised by external consultants, set out clear parameters for theChief Executive's role and conducted a rigorous selection process. The Board wasunanimous in its decision to appoint Mark as Nick's successor. UNITE's mission,strategic focus on customers, people and shareholders and the Group's embeddedvalues will remain absolutely constant under Mark's leadership. "Today UNITE announced another set of strong annual results. Having establishedits core principles and strategy, these Board changes ensure that the Group willbe able to continue to build on its strong foundations as the UK's leadingstudent hospitality provider." - Ends - Enquiries to: UNITENick Porter / Mark Allan 0117 302 7112 Redleaf CommunicationsEmma Kane/Wendy Timmons 020 7955 1410 Notes to Editors: • UNITE is the UK's number one student hospitality company with 31,000 beds in 29 cities. • The Group focuses on the provision and management of high quality, well-located student accommodation and hospitality services at affordable prices in strong higher education markets. UNITE undertakes the planning work, development and management of sites, often working closely with the Universities and Colleges to deliver accommodation for students across all ages and nationalities. • Led by strong values at its heart, UNITE delivers the real student experience. • Further information on UNITE is available on the Company's website: www.unite-group.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Unite