Planned CEO Transition

19 June 2023

Kainos Group plc

("Kainos" or the "Company")

Planned CEO Transition

Kainos Group plc (KNOS), a UK-headquartered IT provider with expertise across three divisions, Digital Services, Workday Services, and Workday Products, today outlines the details of a planned CEO transition that is intended to take place by the end of September 2023.

After 22 years as CEO, and a total of 34 years of service with the Company, Brendan Mooney, with the agreement of the Board, has elected to complete his term as CEO of Kainos by the end of September 2023.  At this time Russell Sloan, currently the Digital Services Director of Kainos, will assume the CEO role and join the Kainos Board of Directors. 

Brendan joined Kainos as a trainee software engineer on 19 June 1989, undertaking several technical and consulting roles before being appointed to the role of CEO in June 2001.  During his tenure as CEO, he has led Kainos through a successful IPO on the London Stock Exchange and turned Kainos into a truly international business and one of the UK's leading IT providers.  Brendan will continue to serve as CEO until the conclusion of the Company's Annual General Meeting ("AGM") on 21 September 2023.  He will not stand for re-election to the Board but will remain actively engaged with the business until June 2024, to ensure an orderly transition. 

Russell joined Kainos on 21 June 1999, also as a trainee software engineer, before embarking on a series of leadership roles. Since 2013, Russell has been the Director of Kainos' Digital Services division, over that period growing the division from 35 people to the global team of 1,600 people it is today, delivering digital transformation for government, healthcare and commercial sector organisations.  In the most recent financial year, Digital Services generated over 60 per-cent of Kainos' total revenue.

Brendan Mooney, CEO of Kainos, commented:

"My decision to step down as CEO of Kainos was not an easy one, but made easier knowing the talent and motivation of the team leading the business today. I have complete confidence in Russell to lead us successfully into the future and I look forward to supporting him and the wider team over the next twelve months.

It has been a wonderful experience to be part of the Kainos journey: to have worked alongside so many exceptional friends and colleagues; to have witnessed the positive difference our work has made for our customers and in society; and to have watched Kainos grow from a local start-up to a dynamic global firm.

I would like to take this opportunity to thank everyone in Kainos for creating the special business that we are today; and for the support they have provided to me personally throughout my career."

Russell Sloan, Director of Digital Services and CEO Designate, commented:

"Kainos is a thriving, growing and global business. I am excited to be taking over the role of CEO in September and look forward to building on the success that has been created over the past decades. We have much to be proud of as a team and look forward to many more achievements in the future.    

I would like to thank Brendan for his leadership and support, and to thank the Board for the confidence placed in me to lead this exceptional business.  I am fortunate to be surrounded by a remarkable, talented team who will help me execute against the clear, proven and effective strategy already in place."

Tom Burnet, Chairman of Kainos, commented:

"As a Board, we wish to record our thanks to Brendan for his outstanding leadership over the past two decades. I am certain that he will look back on his extensive career at Kainos with a sense of immense pride.  Brendan and Russell have worked closely as colleagues for many years and today formalises the final stage of our four-year succession process.  We look forward to continuing to work closely with Russell and supporting him as he continues to grow the business."

This announcement is made pursuant to LR 9.6.11 of the Listing Rules.

The Company confirms that there are no other disclosures that need to be made under Listing Rule 9.6.13 (1) - (6) relating to the planned  appointment of Russell Sloan.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.

Ends

For further information, please contact:

Kainos via FTI Consulting LLP

Brendan Mooney, Chief Executive Officer

Richard McCann, Chief Financial Officer

Investec Bank plc +44 20 7597 5970

Patrick Robb / Ben Griffiths

FTI Consulting LLP +44 20 3727 1000

Matt Dixon / Dwight Burden / Kwaku Aning 

About Kainos

Kainos Group plc is a UK-headquartered IT provider with expertise across three divisions: Digital Services, Workday Services, and Workday Products.

·    Digital Services develops and supports custom digital service platforms for public sector, commercial, and healthcare customers. Our solutions transform the delivery of these services, ensuring they are secure, accessible, and cost-effective, and provide better outcomes for users.

·    Workday Services specialises in the deployment of Workday, Inc.'s Finance, HR and Planning products to leading organisations across Europe and North America. We are one of Workday's most respected partners, experienced in complex deployment and trusted by our customers to launch, test, expand, and support their Workday systems.

·    Workday Products develops products that complement Workday. Our Smart product suite, including Smart Test (for automated testing), Smart Audit (for compliance monitoring), and Smart Shield (for data masking), are used by more than 350 customers globally to safeguard their Workday systems.

Our people are central to our success. We employ more than 2,900 people in 22 countries across Europe and the Americas.