GB GROUP PLC
("GBG", the "Group" or the "Company")
GBG is pleased to announce the appointment of Richard Longdon to its Board as its next Chair and Non-Executive Director with effect from 1 September 2022. He will replace David Rasche, who is stepping down from the Board and retiring after twelve years with the Group. David will remain an active member of the Board until 30 September 2022 to ensure an orderly handover.
The Board would like to thank David Rasche for his contribution and support. As Chair since December 2010, David's counsel and stewardship have played a significant and important role in guiding the success of the business. During David's tenure as Chair, GBG has completed 15 acquisitions, the Group's market capitalisation has grown from
c. £24m to c. £1.2bn today and the Company has developed into a global leader in digital identity software.
Richard Longdon will join GBG following a highly successful career in the technology sector. He spent 33 years with AVEVA Group where he was Chief Executive Officer for 17 years and has held a number of non-executive director and chair roles since. His global leadership experience will enable him to lead the Board through the next stages of the Company's growth and assist management in shaping the future strategy for the business.
Commenting on his new role, Richard Longdon said:
"I am delighted to join GBG at an exciting time. It is clear that the business has the ambition and capabilities to execute on the attractive long-term growth opportunities in its markets. This is underpinned by the talent, passion and culture of the team. I look forward to working with Chris Clark, the Executive team and the rest of the Board, to continue building on the success achieved to date as I lead the Board with a determination to continue advancing the business for the benefit of all our stakeholders."
David Rasche, departing as Chair, said:
"I am proud of what GBG has achieved during my time as Chair, particularly the journey of significant growth which has seen GBG become the largest pure-play identity software solutions provider on the public markets. It has been a privilege to spend twelve enjoyable and successful years with this great business, it is now time to hand on the baton of Chair."
Chris Clark, Chief Executive of GBG, said:
"I want to express my personal thanks to David Rasche. His commitment, passion and advice have been invaluable since I joined GBG five years ago. He has led the Board through transformational change as the business has grown to become an industry leader while creating significant value for shareholders. He will depart with our best wishes for the future.
We look forward to welcoming Richard as we continue our ambitious growth journey. Richard's appointment reflects his calibre and suitability for the role of leading the GBG Board. He brings a deep technology understanding with proven experience of successful expansion in the sector. We will benefit hugely from his guidance and insight as GBG continues to execute upon its global growth strategy."
In accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies, Richard Longdon (aged 64) holds or has held in the past 5 years the following directorships and partnerships:
Murgitroyd Group Limited
Project Petra Topco Limited
Project Petra Bidco Limited
Invesco Software Holdings Limited
20th Century Motor Cars Limited
Fidessa Group Holdings Limited
Alfa Financial Software Holdings plc
Flying Kiwi (Holdings) Limited
Siemens Process Systems Engineering Limited
Prometheus Group Inc
Mr Longdon holds no shares in the Company.
There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule 2 (g) of the AIM Rules for Companies.
For further information, please contact:
Annabelle Burton, Company Secretary
Richard Foster, Investor Relations
+44 (0) 1244 657333
+44 (0) 7816 124164
Peel Hunt LLP
Edward Knight & Paul Gillam
+44 (0) 20 7418 8900
Tulchan Communications LLP
James Macey White & Matt Low
+44 (0) 20 7353 4200
We are the experts in digital location, identity and managing fraud risk and compliance. Helping organisations across the globe eliminate customer friction and fraud from their digital experiences. GBG develops and delivers digital identity, address verification, fraud prevention and compliance software to businesses globally.
Through the combination of the latest technology, the most accurate data and our unrivalled expertise, GBG helps organisations ranging from start-ups to the largest consumer and technology brands in the world deliver seamless experiences, so their customers can transact online with greater confidence.
To find out more about how we help our customers establish trust with their customers visit www.gbgplc.com and follow us on LinkedIn and Twitter @gbgplc.