Wasps Finance PLC Directorate Change (9239D)
02 Mai 2017 - 3:30PM
UK Regulatory
TIDMWAS1
RNS Number : 9239D
Wasps Finance PLC
02 May 2017
Wasps
Directorate change
David Armstrong stepping down as Group CEO to be succeeded by
Nick Eastwood
David continues as Non-Executive Director
Wasps, an English professional rugby union club and owner of the
Ricoh Arena in Coventry, one of the UK's leading sports,
exhibition, conferencing and events arenas ("the Club"), today
announces that David Armstrong, Group CEO, will be stepping down in
June, at the conclusion of the rugby, netball and concert seasons.
David will remain on the Board of Wasps as a Non-Executive
Director. Deputy Chairman, Nick Eastwood will take on the role of
Group CEO following David's departure.
Derek Richardson, Wasps' Chairman, commented:
"David's impact on Wasps has been huge, from leading the
original purchase of the Ricoh Arena and the Club's relocation to
Coventry, to the launch of our Retail Bond, the redevelopment of
our hotel, developing our new fanbase at the Ricoh and the launch
of Wasps Netball. On behalf of the Board, I would like to thank him
for the tremendous impact he has had on the Club. He leaves the
business and management team well positioned to continue its growth
and we will continue to benefit from his expertise as he continues
to serve on the Board.
"I am delighted that Nick [Eastwood] will be taking on the role
of Group CEO. He has been at the heart of the Club for the last
five years and played a crucial role in its transformation. His
experience in rugby, operations, strategy, finance and at
Twickenham which is a multi- purpose venue, means that he is
uniquely qualified for the role and I have every confidence in our
future under his leadership."
David Armstrong, said:
"It has been a tremendous privilege to work with Wasps for the
past three years during a period of dramatic change and growth.
There is no doubt that Derek Richardson and the Board are building
a powerful long-term platform to take the Club to great heights in
the years to come. Wasps will always have a very special place in
my heart and I would especially like to thank the Wasps and Ricoh
Arena staff for all their tremendous hard work and support. I look
forward to continuing to work with the Club in my capacity as Board
member, while still enjoying trips to the Ricoh to support the
teams."
-End-
Notes to Editors:
Nick Eastwood joined Wasps as chief executive in 2012 on the
back of a hugely successful 12-year spell with the RFU (Rugby
Football Union), where he helped to grow the RFU's net worth from
GBP35m to GBP180m and profits from a loss of GBP5m to profit of
GBP15m, while playing a key role in steering the governing body
through an economic downturn.
Prior to his role with the RFU, the ICAEW-qualified accountant
and Oxbridge graduate spent five years with The Body Shop
International PLC as its Global Head of Corporate Services, and has
previously held senior management roles at Lifetime Corporation USA
and then at powerhouse accounting firm Arthur Andersen.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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