Business
Intended Changes to Board Composition
Intended Changes to Board Composition.
About this update from Accesso Technology Group Plc
[{"type":"text","content":"\n \nRNS Number : 6582A Accesso Technology Group PLC 23 January 2020 \n\nThe information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation 596/2014.\n \n23 January 2020\n \naccesso® Technology Group plc\n \n(\"accesso\" or the \"Company\")\n \nIntended Changes to Board Composition \n \naccesso Technology Group plc (AIM: ASCO), the premier technology solutions provider to leisure, entertainment, hospitality, attractions and cultural markets, is pleased to announce its intention to appoint Mr. Steve Brown as the new Chief Executive Officer and a Director of the Company. This appointment is expected to be effective from Monday 27 January 2020, subject to completion of the customary Nominated Adviser diligence checks. \n \nSteve Brown founded the Company's namesake accesso in 2008 which became part of what is now accesso Technology Group plc when it was acquired in 2012. Mr. Brown served as President & Chief Executive Officer from 2016 until 2018. He now steps back into the role as Chief Executive Officer to reinvigorate the Company's strategic plan to fully leverage the range of assets within its portfolio and deliver value-enhancing solutions to the marketplace, whilst creating value for shareholders.\n \nThe Company and Paul Noland have agreed that he will resign as Chief Executive Officer and step down from his role on the accesso Board concurrently with Steve Brown's expected appointment.\n \nIntention to make LTIP Award:\nThe Company confirms that as part of Steve Brown's proposed appointment to the Board of accesso, the Board expects to agree a long-term incentive plan (\"LTIP\") that will appropriately incentivise Mr. Brown for delivering growth and shareholder value.\n \nThe LTIP will seek to create an incentive that is directly aligned with any increase in shareholder value and is planned to strongly incentivise Mr. Brown to further develop the Company's growth, profitability and cash generation to the benefit of all of accesso's stakeholders.\n \nThe Board will provide a further update outlining the details of the agreed LTIP upon Mr. Brown's appointment to the Board.\n \nBill Russell, Non-Executive Chairman of accesso, commented:\n\"We are thrilled that Steve has decided to retur...