K3 BUSINESS TECHNOLOGY GROUP PLC

Board/Management Information • Sep 23, 2016

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RNS Number : 6178K

K3 Business Technology Group PLC

23 September 2016

23 September 2016

AIM: KBT

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

K3 BUSINESS TECHNOLOGY GROUP PLC

("K3" or "the Group" or "the Company")

Appointment of Chief Executive Officer

K3, which provides and supports software, cloud solutions and managed services to the retail, manufacturing and distribution sectors, is pleased to announce the appointment of Adalsteinn Valdimarsson as the Company's Chief Executive Officer. Adalsteinn, who joined K3 on 11 July 2016 as a Non-executive Director, will take up his new position on 1 October 2016.  At the same time, Chief Executive Officer, David Bolton will step up to assume the role of Executive Chairman and Lars-Olaf Norell will return to the position of Non-executive Director, as previously announced.

Adalsteinn has over 20 years' experience in the software industry and has founded and led the expansion of a number of product-based software companies. In addition, he has significant experience in retail software and the Microsoft Dynamics platform.

The Board is also making new appointments and changes to the senior management team, which will help to support the Group's long term growth plans.  Further announcements will be made as appropriate.

David Bolton, Chief Executive Officer, said:

"On behalf of the Board, I am delighted to welcome Adalsteinn as the Company's new Chief Executive Officer. Adalsteinn's experience in the software sector, especially in driving IP strategies, is significant, and he takes up his new role at a particularly exciting time for the Group, with prospects looking very encouraging - as we reported at the time of our full year results in mid-September. 

On behalf of my colleagues, I would also like to thank Lars-Olof Norell for his stewardship of K3 as Interim Chairman."

Enquiries:

K3 Business Technology Group plc	David Bolton, Chief Executive Officer	T: 0161 876 4498
www.k3btg.com
finnCap Limited	Julian Blunt/ James Thompson	T: 020 7220 0500
(NOMAD)
KTZ Communications	Katie Tzouliadis/ Viktoria Langley/ Emma Pearson	T: 020 3178 6378

This information is provided by RNS

The company news service from the London Stock Exchange

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