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| Date | 15 Sept 2021 |
| Time | 07:00:08 |
| Category | Board changes |
| ID | 8333L |
15 September 2021
Restore plc
("Restore" or the "Group" or "Company")
Chair Succession Announcement
Restore plc (AIM: RST), the UK's leading provider of integrated information and data management services, secure technology recycling, and commercial relocation solutions, is pleased to announce that Sharon Baylay will succeed Martin Towers as Non-Executive Chair of the Group, with effect from 1 October 2021.
Sharon Baylay was appointed to the Board in September 2014 and is currently the Group's Senior Independent Non-Executive Director, Chair of the Risk Committee and member of both the Audit and Remuneration Committees. Sharon is also Non-Executive Director of Hyve plc and a Non-Executive Chair at Unique X Ltd, Foundation SP Ltd and DriveWorks Ltd.
Martin Towers joined the Board in September 2017 and assumed the role of Chair on 1 January 2018. During his tenure, Martin has successfully managed the transition to a new executive team and overseen the evolution of the Group's high growth strategy. After successfully navigating the pandemic over the last 18 months, the Group has emerged a larger, stronger and growing business with significant future prospects. Martin feels now is a good moment to handover the Chair and to devote more time to develop his private portfolio and his personal interests. Martin will retire as Chair on 1 October 2021 and formally step down from the Board on 31 October 2021.
Jamie Hopkins, currently Non-Executive Director, will assume the role of Non-Executive Senior Independent Director, also effective from 1 October 2021. Jamie will continue to Chair the Group's Remuneration Committee and his participation in the Audit and Nomination Committees.
Susan Davy, currently Non Executive Director, will continue to Chair the Group's Audit Committee and her participation in the Remuneration and Nomination Committees.
The Board will undertake a search for a further Non-Executive Director to join the Board with the retirement of Martin.
Martin Towers, Retiring Chair commented:
"I have enjoyed my time at Restore and want to thank the whole team for their dedication to customers
and the development of the business. Over the last two years in particular, the business has been transformed and is now poised to grow even further and I look forward to following the Group's progress. I also want to congratulate Sharon on her appointment to the Chair and I am delighted to be leaving the Company in such good hands to unlock the further growth I know the business is capable of delivering."
Sharon Baylay, Chair Designate commented:
"I am delighted to be appointed Chair of the Board at an exciting moment for the Group. I want to thank Martin for his outstanding leadership and on behalf of the Board and Shareholders, I would like to recognise his significant contribution to the transformation of the business and in establishing the strong platform the Group has today. The growth strategy of Restore is clear and I look forward to working closely with Charles and the whole team to continue to grow the business."
Charles Bligh, CEO commented:
"I want to thank Martin personally for the significant contribution he has made to Restore. I have enjoyed working with Martin and he has been a terrific Chair. The creation of the growth strategy and successful navigation through the unprecedented challenges posed by the pandemic are milestones to be proud of. I also want to congratulate Sharon and I am looking forward to the continuation of our excellent working relationship as she steps into her new role as Chair of Restore plc."
Restore plc www.restoreplc.com
Charles Bligh, CEO 020 7409 2420
Neil Ritchie, CFO
Peel Hunt LLP www.peelhunt.com
Mike Bell 020 7418 8900
Ed Allsopp
Buchanan Communications www.buchanan.uk.com
Charles Ryland 020 7466 5000
Vicky Hayns
Stephanie Whitmore