Board/Management Information • Dec 6, 2016
Board/Management Information
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RNS Number : 0219R
Northgate PLC
06 December 2016
6 December 2016
Northgate plc
("Northgate" or "the Group")
Directorate Change
Kevin Bradshaw to succeed Bob Contreras as Chief Executive of Northgate
Northgate today announces that Bob Contreras will stand down as Chief Executive Officer (CEO) and leave the Company. He will be succeeded by Kevin Bradshaw, formerly CEO of Wyevale Garden Centres and previously UK Managing Director of Avis Europe plc. Bob will remain CEO and on the Board until Kevin's appointment on 11 January 2017.
Bob leaves after nearly nine years at Northgate, where he was first the Chief Financial Officer and since June 2010, has been CEO. Bob intends to pursue his various other interests outside of Northgate.
Kevin has a background covering support services, B2B, vehicle rental and multi-site retail. Most recently he was CEO of Wyevale Garden Centres, a role he held from November 2012 until March 2016. Previous to that, Kevin was UK Managing Director at Avis Europe Plc for five years and also served as Chief Information Officer for the Group. Prior to his roles at Avis, Kevin held a variety of senior positions at Reuters plc. Kevin held a Non-Executive Directorship at Regenersis PLC, now Blancco Technology Group plc, between January 2012 and April 2013.
Andrew Page, Chairman of Northgate, said: "On behalf of the Board, I would like to thank Bob Contreras for his contribution and efforts during his time with Northgate. We wish him well for the future. Northgate is a business with much potential and the Board has been focused on building a team that possesses the skills, drive and ambition to harness that potential and deliver consistent, profitable growth. I am delighted that Kevin Bradshaw has accepted the role of CEO. Kevin's background, ambition and experience are well suited to driving our company forwards and, under his leadership, we expect to see further improvement and progress."
Bob Contreras said: "Leading Northgate has been a huge privilege. The team at Northgate is excellent and together we have navigated the changing markets and I am extremely pleased that I leave Northgate with our new business initiatives already demonstrating traction."
Kevin Bradshaw said: "I am delighted to have been asked to take over as CEO of Northgate. Northgate is a company with real potential; it has a strong brand, strong market positioning and, I believe, fantastic prospects in the UK, Spain and Ireland. I look forward to working with the Northgate team to deliver further success over the coming years."
ENDS
Notes
Mr Bradshaw has been appointed on an annual salary of £408,000, effective from 11 January 2017. Mr Bradshaw will receive an annual pension contribution equivalent to 18% of his base salary. Mr Bradshaw's maximum annual bonus opportunity and Executive Performance Share Plan (EPSP) award will each be 150% of base salary. His annual bonus and EPSP award will be prorated for the first year of employment. All elements of remuneration are in line with the Company's Executive Director Remuneration Policy. There are no buy-out awards to compensate for forfeiture of remuneration from a previous employer.
There is no further information that is required to be disclosed under LR 9.6.13.
This announcement contains inside information.
| Northgate plc | 01325 370207 |
| Andrew Page, Chairman | |
| Katie Wood, Group Secretary | |
| MHP Communications | 020 3128 8100 |
| Andrew Jaques | |
| Barnaby Fry | |
| Ollie Hoare |
This information is provided by RNS
The company news service from the London Stock Exchange
END
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