23rd Apr 2008 10:46
Management Consulting Group PLC23 April 2008 Management Consulting Group PLC New Organisational, Management and Board Structure The Board of Management Consulting Group PLC ("MCG"), announces that, withimmediate effect, it is streamlining the organisation of MCG and putting intoplace a new management structure. The Board believes that these changes willprovide a firm foundation for delivering profitable growth for shareholders andwill lead to an improvement in both operational and financial performance. Organisational Structure The consulting businesses of MCG will be aligned under two separate groupsreflecting the client focus of each consultancy, as follows: • Consultancy Practices This group will comprise the client and industry-led and specialisedconsultancies, offering strategic and business management consultancy services.It will be made up of Ineum Consulting, Kurt Salmon Associates, ParsonConsulting, Viaduct Consulting and Salzer Consulting, and will be led by Miguelde Fontenay, Chief Executive of Ineum Consulting. • Operational Consulting This group will comprise the operational and financial management consultancybusiness, Proudfoot Consulting, and will remain under the leadership of LuizCarvalho. This structure will allow an even better focus on client needs and, within theConsultancy Practices group, will enable delivery of operational synergies. Thestructure will also create two clear and distinct business streams with fullyaccountable and aligned management capable of delivering sustainable businessgrowth and new business opportunities. Senior Management and Board Structure To ensure effective management of the new organisation the leadership roleswithin the senior management of MCG are being redefined. Alan Barber will continue as Executive Chairman, chairing the Board andExecutive Committee. Mark Wietecha, Chairman of Kurt Salmon Associates, will become Deputy Chairmanof MCG. Craig Smith, Finance Director, who announced his resignation on 19 February2008, has agreed to withdraw this and will continue in his current role. He willalso assume responsibility for investor relations and the central departments ofMCG and will continue to report to Alan Barber. Miguel de Fontenay and Luiz Carvalho will become Managing Directors of MCG andChief Executives of their respective groups, reporting to Alan Barber. An Executive Committee will be formed comprising the executive members of theBoard: Alan Barber, Miguel de Fontenay, Luiz Carvalho, Mark Wietecha and CraigSmith. The Board currently has four non-executive directors: Baroness Janet Cohen(Senior Non Executive Director), Stephen Ferriss, J P Bolduc (non-independent)and Andrew Simon. It is seeking to appoint additional independent non-executivedirectors to ensure compliance with the Combined Code and to reflect thegeographic diversity of MCG. Search processes have commenced and appointmentswill take place over time. The strategy of MCG will remain to grow its existing operations both organicallyand by selected value enhancing acquisitions. Throughout, the emphasis will beon delivering growth in shareholder value. The strategy will be led by Miguel deFontenay who will be tasked with developing the strategic plan. Alan Barber, Executive Chairman, said, "The new organisational structure hasbeen developed following a consultation process that solicited the views of manyinternal and external stakeholders of MCG. As a result of this new structure andthe management changes the Board believes that MCG is well positioned to delivergrowth and value to all shareholders." Enquiries Management Consulting Group PLC 0207 710 5000Alan Barber Maitland 020 7379 5151Suzanne BartchPeter Ogden Notes to Editors Management Consulting Group PLC (MMC.L) is an umbrella organisation for adiverse range of consulting and professional services offerings. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MMC.L