TIDMMIND
RNS Number : 3674V
Mind Gym PLC
01 December 2023
1 December 2023
Mind Gym PLC
("Mind Gym", the "Group" or the "Company")
Directorate Changes
CEO Succession and Board Changes
MindGym (AIM: MIND), the global provider of human capital and
business improvement solutions, announces changes to its leadership
team as part of the planned evolution from being a founder led
business.
Appointment of Christoffer Ellehuus as CEO designate
Following an extensive search process, which commenced early in
the year, and after consultation with key institutional
shareholders, the Board is delighted to announce the appointment of
Christoffer Ellehuus as CEO designate. Christoffer is currently at
Korn Ferry, where he is President of Digital and leader of the
firm's Global Sales Effectiveness Practice. He will join MindGym on
8th January 2024, transitioning to CEO by the time of the AGM in
July 2024. At this point, subject to regulatory approval, he will
be appointed to the Board of Directors.
On Christoffer's appointment to the Board as CEO, Octavius Black
will move to the role of Executive Chair. Octavius's executive
responsibilities will be focused on increasing MindGym's market
presence, further development of product and thought leadership and
building relations with major clients.
Summary of further board changes
In conjunction with the CEO succession, a series of further
board changes are planned, to retain strong corporate governance,
providing the right balance of skills, experience and independence,
and to support the delivery of MindGym's strategy:
-- Chair:
o Ruby McGregor-Smith's three-year term as Chair ends in July
2024
o Octavius Black, the Group's current CEO, will, at this point,
transition to Executive Chair
-- Non-Executives Directors:
o Sally Tilleray will continue as Senior Independent Director,
Trevor Phillips as Independent Non-Executive Director, and David
Nelson as Non-Executive Director
o Joanne Cash will not seek re-appointment at the AGM and will
step down from the role of Non-Executive Director at that
juncture
o A new independent Non-Executive Director will be appointed by
no later than the AGM
Dominic Neary and Sebastian Bailey will continue in their
current executive roles. Following the board restructure, the Board
will consist of four Executive directors, including Octavius Black
as Executive Chairman, alongside four Non-Executive Directors,
three of whom will be independent.
Octavius Black, Chief Executive Officer of Mind Gym, said:
"I am delighted that we have appointed Christoffer Ellehuus as
CEO Designate as part of our plan to reduce founder dependency and
drive scalable growth.
Christoffer has a highly complementary skill set to the existing
leadership team. He comes to MindGym with a track record of
successful commercial, product and digital leadership in our
market, including as CEO of a global learning business, and has
worked and lived in both US and EMEA, our two core markets.
MindGym has remarkable proprietary IP built over 23 years and
tested with over 5 million business leaders, high levels of repeat
revenue from a roster of FTSE-100 and S&P-100 companies, and a
unique strategy that integrates live, virtual and digital, fuelled
by data.
Christoffer's arrival brings a strong commercial discipline,
which gives us even more confidence that we can convert these
signature strengths, into strong financial performance in the years
ahead.
Whilst they will remain in seat until the AGM, I would like to
thank Joanne and Ruby for their significant contribution to
MindGym. Their leadership has been invaluable."
Enquiries:
Mind Gym plc
Octavius Black, Chief Executive Officer
Dominic Neary, Chief Financial Officer +44 (0)20 7376 0626
Liberum (Nominated Adviser and Sole
Broker)
Nick How
Edward Mansfield +44 (0)20 3100 2000
----------------------
MHP Group (for media enquiries) +44 (0)20 3128 8100
Reg Hoare mindgym@mhpgroup.com
Katie Hunt
Veronica Farah
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About Mind Gym
Mind Gym is a company that delivers business improvement
solutions using scalable, proprietary products which are based on
behavioural science. The Group operates in three global markets:
business transformation, human capital management and learning
& development. Mind Gym is quoted on the London Stock Exchange
Alternative Investment Market (ticker: MIND) and headquartered in
London. The business has offices in London, New York and Singapore.
Further information is available at www.themindgym.com
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR") EU no.596/2014. Upon the
publication of this announcement via Regulatory Information Service
("RIS"), this inside information is now considered to be in the
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END
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