TIDMYOU
RNS Number : 4113C
YouGov PLC
11 October 2022
11 October 2022
YouGov plc
("YouGov" or "the Group" or "the Company")
Board Succession Planning
YouGov, the international online research data and analytics
technology group, is pleased to provide an update on Board
succession planning in relation to the previously announced planned
retirement of the Non-Executive Chair, Roger Parry. This
announcement supplements the disclosures regarding Board succession
included in the Company's Preliminary Results Announcement for the
year to 31 July 2022 which was released today.
Over the last 12 months, the Board's Nomination Committee, with
support from leading international executive search firm Egon
Zehnder, has conducted a rigorous assessment of the Board's
composition and the skills, experience, structure and roles that
are needed to support the Company's next phase of growth and ensure
continued, effective leadership of the Group. As part of this
process, the Committee identified the criteria required for the
role of future Chair of YouGov to continue the delivery of the
Company's long-term vision to become the world's leading market
research platform.
During this assessment Stephan Shakespeare, YouGov's co-founder
and current Chief Executive Officer, indicated to the Committee his
desire to assume a more strategic, non-executive leadership role
within the Group, allowing him to shift focus from day-to-day
operational oversight to more long-term development and governance
once the next phase of the Group's growth strategy had been set
out.
After an extensive assessment process, the Board unanimously
agreed that it is in the best interests of the Company's long-term
stability for Stephan to take over the role of Chair when Roger
steps down. Consequently, Stephan has been appointed as YouGov's
Non-Executive Chair Designate.
Stephan will assume the Chair role upon a new CEO commencing in
post, currently anticipated to be on 1 August 2023 which is the
start of the next financial year. The search for a new CEO has been
launched and the Nomination Committee is currently considering a
wide variety of both external and internal candidates as part of an
international search process. The appointment of the CEO Designate
is expected in the spring of 2023 to allow sufficient time for a
hand-over period. To ensure an orderly transition and allow
adequate time to recruit the right candidate for the CEO position,
Roger will be put forward for re-election at the upcoming AGM (8
December 2022) with the underlying expectation that he shall retire
on 1 August 2023.
As previously announced, Nick Prettejohn joined the Board in
June 2022 as a Non-Executive Director. It is intended that Nick
will take on the role of Senior Independent Director ("SID") at the
same time as Stephan's transition to Chair. Rosemary Leith, the
current SID, will stay on the Board following this planned
transition and will continue as Chair of the Remuneration
Committee. In her role as SID, Rosemary led discussions within the
Nomination Committee about the succession of the Chair.
To further strengthen the Board and maintain the highest levels
of corporate governance, it is also planned that a new independent
Non-Executive Director will be appointed in the short term and this
search is currently underway. Adding this new Non-Executive role,
in addition to Nick, ensures a majority of independent members on
the Board following the Chair transition, while bringing further
skills and diversity to the boardroom, and it is commensurate to
the Company's current size and growth plans.
The Company will provide updates in respect of the CEO and NED
searches in due course.
Regarding the Chair succession plan, Rosemary Leith, SID,
commented: "After a series of detailed discussions and exploration
of various options for the Chair succession, the Nomination
Committee, and subsequently the full Board, unanimously agreed that
no other candidate could match the qualities which Stephan will
bring to the role. As founder of the Company, he is uniquely
positioned due to his extensive knowledge of the business, his
in-depth understanding of investor and other stakeholder
expectations, and his role in shaping the strategic direction of
the Company. The planned changes, with Stephan at the helm as
Chair, will result in a Board that is very well placed to lead the
next phase of growth for YouGov."
Roger Parry, Non-Executive Chair, commented: "As CEO, Stephan
has been an exceptional leader of the business and under his tenure
as sole CEO since 2010 YouGov has grown top-line more than
fivefold. The Board is cognisant of the potential challenges of a
Founder & CEO moving to Chair and we have put in place
protocols and resources to set the transition up for success. I
have full confidence in Stephan as the next Chair and I look
forward to supporting with the ongoing succession planning
activities leading up to the planned handover."
Stephan Shakespeare, Founder & CEO and Non-Executive Chair
Designate, commented: "It will be an honour to step into the role
of Chair and continue my journey with the company I co-founded in
2000. I am hugely excited by the opportunity to lead the Board and
to provide continuity and stability to YouGov as we continue our
evolution into a platform business under the leadership of the next
CEO. With the Nomination Committee's work on succession and
composition, we have a strong governance model for this next phase
of our growth.
"As I prepare to transition from my current role as CEO, I am
immensely proud of the business we have built over the last 22
years and motivated for the journey ahead. I am confident that I
will be handing over the reins with the Group in its strongest ever
position and a clear strategy to realising our vision of building
the world's leading market research platform. In the meantime, I am
fully engaged in my position as CEO and focussed on the current
year."
Enquiries
YouGov plc
Tilly Heald / Hannah Jethwani 020 7012 6000
FTI Consulting
Charles Palmer / Tom Blundell / Jemima Gurney 020 3727 1000
Numis Securities (NOMAD and Joint Broker)
Nick Westlake / Iqra Amin 020 7260 1000
Berenberg (Joint Broker)
Mark Whitmore / Richard Andrews / Alix Mecklenburg-Solodkoff 020 3207 7800
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/201 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
("MAR"). Upon the publication of this announcement via a Regulatory
Information Service this inside information is now considered to be
in the public domain. The person responsible for arranging release
of this announcement on behalf of the Company is Tilly Heald,
Company Secretary of the Company.
About YouGov
YouGov is an international online research data and analytics
technology group.
Our mission is to offer unparalleled insight into what the world
thinks.
Our innovative solutions help the world's most recognised
brands, media owners and agencies to plan, activate and track their
marketing activities better.
With operations in the UK, the Americas, Europe, the Middle
East, India and Asia Pacific, we have one of the world's largest
research networks.
At the core of our platform is an ever-growing source of
consumer data that has been amassed over our twenty years of
operation. We call it Living Data. All of our products and services
draw upon this detailed understanding of our 22+ million registered
panel members to deliver accurate, actionable consumer
insights.
As innovators and pioneers of online market research, we have a
strong reputation as a trusted source of accurate data and
insights. Testament to this, YouGov data is regularly referenced by
the global press, and we are the second most quoted market research
source in the world.
YouGov. Living Consumer Intelligence.
For further information, visit business.yougov.com
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END
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