Business
CFO Appointment and CEO Succession Plan Update
CFO Appointment and CEO Succession Plan Update.
About this update from On The Beach Group Plc
[{"type":"text","content":"\n \n \n \n 31 March 2023\n \n \n \n \n On the Beach Group plc\n \n \n \n (\"On the Beach\" or the \"Group\")\n \n \n \n \n \n \n CFO Appointment and CEO Succession Plan update\n \n \n \n \n \n \n On the Beach Group plc (LSE: OTB.L) is pleased to announce the appointment of Jon Wormald as Group Chief Financial Officer (\"CFO\"). Jon will join On the Beach and the Board on 30 June 2023, at which point the Group's previously announced CEO Succession Plan will be enacted. On the same date, Shaun Morton, the Group's current CFO, will replace Simon Cooper as Chief Executive Officer (\"CEO\") and Simon will transition to his new role of Founder Director NED.\n \n \n \n \n \n Jon joins On the Beach from THG PLC, a global e-commerce technology group and brand owner, where he is currently CFO of THG Nutrition, the world's largest online sports nutrition brand. At THG Nutrition, Jon has been responsible for the financial performance of the division alongside responsibility for the vertically integrated manufacturing businesses. Jon joined THG in 2021 as Deputy Group Chief Financial Officer to deliver the successful reorganisation of the Group, designed to maximise strategic optionality, which was completed ahead of market expectations. Prior to THG, Jon spent 11 years at the Co-operative Group Limited, holding a number of senior roles including Director of M&A, Programme Director and leading the Group's Finance department.\n \n \n \n \n \n The Nomination Committee is progressing a search for an additional independent Non-Executive Director to complement the existing balance of skills and experience on the Board. Once this position is filled, the Board composition will remain in line with the requirements of the UK Corporate Governance Code.\n \n \n \n \n \n \n Richard Pennycook, Chair of On the Beach, commented:\n \n \n \n \"The Board and I are delighted to welcome Jon as our incoming Group CFO. Having worked closely with Jon in a previous role, I know he is a talented individual whose extensive experience in both online and consumer-facing businesses are well suited to the Company and we look forward to working with him.\"\n \n \n \n \n \n \n Shaun Morton, CEO designate, commented:\n \n \n \n \"Jon's senior financial and operational roles will be invaluable to us at On the Beach as we continue to s...