TIDMTEP
RNS Number : 0546U
Telecom Plus PLC
21 November 2023
Telecom Plus PLC
Board changes
Telecom Plus PLC (trading as Utility Warehouse or UW), which
supplies a wide range of utility services focussed on domestic
customers, today announces that Andrew Lindsay has informed the
Board of his decision to step down as Co-CEO and from the Board to
pursue other interests after 16 years with the Company.
Stuart Burnett will become sole CEO from the AGM next summer. He
joined the business in 2016 and has been Co-CEO with Andrew since
2021. Andrew will subsequently remain with the business on a part
time basis for at least the next 3 years, with a focus on
supporting and further growing our Partner community.
Charles Wigoder, Non-Executive Chairman said:
"I would like to thank Andrew for the substantial contribution
he has made to the success of the business over the past 16 years.
I am delighted that he has agreed to remain involved on an ongoing
basis, sharing his considerable experience throughout our Partner
community within which he has developed many strong
relationships.
"This seamless succession leaves the business strongly placed
for the next phase of growth under Stuart's proven leadership, as
we continue to scale the business towards 2m customers and
beyond."
Andrew Lindsay, Co-CEO said:
"It has been a privilege to work with everyone at UW over the
years. The business is in better health than ever - in terms of
financial and operational performance, our competitive customer
proposition and our compelling Partner opportunity.
"As we rapidly approach the 1 million customer milestone, the
organic growth opportunity remains vast, and I am excited that I
will continue to be involved with the Partner community and to
support them in achieving their personal ambitions through UW as it
grows.
"Having shared the CEO position with Stuart for 2 years I am
wholly confident that he and the team around him have the
experience and skills to continue growing the business whilst
maintaining our track record of generating strong financial returns
for shareholders."
Stuart Burnett, Co-CEO said:
"After working alongside Andrew as co-CEO for the past two
years, I am looking forward to leading UW through its next phase of
growth. The opportunity for UW to significantly increase market
share across all of its services, and accelerate the trajectory
from 1 million to 2 million customers, has never been greater and
the business continues to perform very strongly, with a real sense
of momentum on all fronts."
For more information please contact:
Telecom Plus PLC
Stuart Burnett, co-CEO 020 8955 5000
Andrew Lindsay, co-CEO
Nick Schoenfeld, CFO
Peel Hunt
Dan Webster / Andrew Clark 020 7418 8900
Deutsche Numis
Mark Lander / Joshua Hughes 020 7260 1000
For investor relations:
Julian Wais
07720 999764 jwais@uw.co.uk
For media relations:
Lansons Communications LLP
Tom Baldock / Ed Hooper 07860 101715 / 07783 387713
utilitywarehouse@lansons.com
About Telecom Plus PLC ("Telecom Plus"):
Telecom Plus, which owns and operates Utility Warehouse (UW), is
the UK's leading multiservice utility provider, offering bundled
household services - energy, broadband, mobile and insurance -
through one account.
Customers benefit from the convenience of a single monthly bill,
consistently good value across all their utilities and exceptional
service levels.
Customers sign up through a network of local UW Partners all
across the country. These Partners recommend UW's services to
friends, family and people they know by word of mouth. Telecom Plus
is listed on the London Stock Exchange (Ticker: TEP LN). For
further information please visit telecomplus.co.uk
LEI code: 549300QGHDX5UKE58G86
Cautionary statement regarding forward-looking statements
This Announcement may contain "forward-looking statements" with
respect to certain of the Company's plans and its current goals and
expectations relating to its future financial condition,
performance, strategic initiatives, objectives and results.
Forward-looking statements sometimes use words such as "aim",
"anticipate", "target", "expect", "estimate", "intend", "plan",
"goal", "believe", "seek", "may", "could", "outlook" or other words
of similar meaning. By their nature, all forward-looking statements
involve risk and uncertainty because they are based on numerous
assumptions regarding the Company's present and future business
strategies, relate to future events and depend on circumstances
which are or may be beyond the control of the Company which could
cause actual results or trends to differ materially from those made
in or suggested by the forward-looking statements in this
Announcement, including, but not limited to, domestic and global
economic business conditions; market-related risks such as
fluctuations in interest rates; the policies and actions of
governmental and regulatory authorities; the effect of competition,
inflation and deflation; the effect of legislative, fiscal, tax and
regulatory developments in the jurisdictions in which the Company
and its respective affiliates operate; the effect of volatility in
the equity, capital and credit markets on profitability and ability
to access capital and credit; a decline in credit ratings of the
Company; the effect of operational risks; an unexpected decline in
sales for the Company; any limitations of internal financial
reporting controls; and the loss of key personnel. Any
forward-looking statements made in this Announcement by or on
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as required by the Market Abuse Regulation, the Disclosure Guidance
and Transparency Rules, the Listing Rules or by law, the Company
undertakes no obligation to update these forward-looking statements
and will not publicly release any revisions it may make to these
forward-looking statements that may occur due to any change in its
expectations or to reflect events or circumstances after the date
of this Announcement.
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END
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November 21, 2023 02:00 ET (07:00 GMT)
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