t
Videndum plc announced on 28 October 2024 that Stephen Harris was appointed Executive Chairman and Sean Glithero joined as Group Chief Financial Officer, both effective immediately. Stephen Bird stepped down as Group Chief Executive Officer and Board member with immediate effect, while Andrea Rigamonti stepped off the Board to resume his prior position as Deputy Group Finance Director. The company has commenced a search for a Group Chief Executive, will immediately undertake a strategic review, and plans to publish a Trading Update in late November 2024.
| Date | 28 Oct 2024 |
| Time | 07:00:06 |
| Category | Board changes |
| ID | 7689J |
28 October 2024
Videndum plc
Directorate changes
The Board of Videndum ("the Company" or "the Group"), the international provider of premium branded hardware products and software solutions to the growing content creation market, announces the following changes to the Group's executive team.
Stephen Harris has been appointed to the position of Executive Chairman, with Sean Glithero joining as Group Chief Financial Officer. They will assume their respective new responsibilities with immediate effect. A search for the position of Group Chief Executive has commenced.
The Board also announces that Stephen Bird is stepping down as the Group Chief Executive Officer and as a member of the Board with immediate effect. The Board would like to thank Stephen for his contribution to the Group since he joined in 2009.
Andrea Rigamonti has stepped off the Board, but will remain with the Company, assuming his prior position of Deputy Group Finance Director, which he held from October 2021 to December 2022 before joining the Board as Group Chief Financial Officer.
Stephen Harris most recently led FTSE250 Bodycote plc for over 15 years as its CEO. Over his tenure, Stephen oversaw strong growth, international expansion and operational improvements, creating significant value for the business. Stephen joined Videndum as a NED in November 2023 and was appointed Chairman in May 2024. Stephen also has significant non-executive experience, including as Senior Independent Director at Mondi plc and as a NED at Brixton plc.
Sean Glithero joins as a highly experienced Chief Financial Officer, bringing with him a wealth of financial and commercial leadership. Sean has previously been CFO at Auto Trader Group plc, Funding Circle Holdings plc, Matchesfashion and, most recently, at ASOS plc. He started his career at Ernst & Young where he qualified as a chartered accountant.
The Board is committed to the creation of shareholder, and wider stakeholder, value. As such, the Company will immediately commence a strategic review and assessment of its reporting structure.
The Company will publish a Trading Update in late November 2024.
Stephen Harris, Executive Chairman, said:
"On behalf of the Board, I would like to thank Stephen Bird for his contribution to Videndum since he joined in 2009. We wish him success in the future.
"I am delighted to welcome Sean to the Group. With his strong financial and commercial acumen, he is well positioned to work with the Board and build a strong finance team.
"I am looking forward to working with the senior leadership team of Videndum to realise its full potential and to deliver meaningful shareholder value."
Contacts
FTI Consulting Richard Mountain 020 3727 1374
Stephen Bird's Remuneration Arrangements
Information relating to the payments to be made to Stephen Bird in connection with his departure from the Group will be disclosed on Videndum plc's website and in the Company's 2024 Directors' Remuneration Report in accordance with the Company's statutory obligations.
About Videndum
Videndum is a leading global provider of premium branded hardware products and software solutions to the content creation market. We are organised in three Divisions: Videndum Media Solutions, Videndum Production Solutions and Videndum Creative Solutions.
Videndum's customers include broadcasters, film studios, production and rental companies, photographers, independent content creators ("ICC"), professional musicians and enterprises. Our product portfolio includes camera supports, video transmission systems and monitors, live streaming solutions, smartphone accessories, robotic camera systems, prompters, LED lighting, mobile power, carrying solutions, backgrounds, audio capture, and noise reduction equipment.
We employ around 1,600 people across the world in ten different countries. Videndum plc is listed on the London Stock Exchange, ticker: VID.
More information can be found at: https://videndum.com
This announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of Videndum plc is Jon Bolton, Group Company Secretary.