TIA Tialis Essential It Plc

TIDMIDE

RNS Number : 5269I

IDE Group Holdings PLC

22 March 2018

IDE Group Holdings Plc

("IDE Group", the "Group" or the "Company")

Board Changes & Update

IDE Group Holdings plc, the mid-market network, cloud and IT Managed Services provider, announces that Andy Ross, Chief Executive Officer, has resigned from the Company and is stepping down with immediate effect.

Julian Phipps, Chief Financial Officer, will assume the role of Chief Operating Officer in addition to his CFO duties and additionally the Board intends to further strengthen the Board in due course.

On 2 February 2018 the Company announced an on-going major cost reduction programme, designed to focus on delivering growth and a return on the investments in services platforms, improve efficiencies and generate cash. As part of this programme the Board has been undertaking a review of the Group's operating strategy of which these Board changes form a part.

Further details, including the outlook for 2018, will be provided at the time of the Company's audited results for the year ended 31 December 2017, expected to be released on or around 26 April 2018.

Bill Dobbie, Interim Non-Executive Chairman of IDE Group, commented:

"I would like to thank Andy for his hard work and dedication to the IDE Group business over the last two and a half years and wish him well for the future."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 
 IDE Group Holdings         Tel: +44 (0)344 
  Plc                        874 1000 
  Bill Dobbie, Interim 
  Chairman 
  Julian Phipps, CFO 
 
 N+1 Singer                 Tel: +44 (0)207 
  Nominated Adviser          496 3000 
  and Broker 
  James Maxwell 
  Jen Boorer 
                            Tel: +44 (0)208 
   Alma PR Limited           004 4218 
   Rebecca Sanders-Hewett 
   Robyn Fisher 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOAJBMMTMBITTRP

(END) Dow Jones Newswires

March 22, 2018 03:02 ET (07:02 GMT)

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