Hostelworld Group plc
("Hostelworld", "the Group" or "the Company")
Board Changes Update
Hostelworld, the world's leading hostel-focused online booking platform, announces the appointment, effective 27 November 2017, of Eimear Moloney as a Non-executive Director.
Eimear is a Chartered Accountant and has held Senior Investment Manager roles in Zurich Life Assurance (Ireland) plc during the past 17 years with responsibility for all major markets including the Irish, U.S. and U.K. equity portfolios, sector, stock analysis and selection. Prior to that Eimear worked with Bankers Trust Funds Management Ltd in Australia and also with Crowe Horwath, Chartered Accountants. Eimear also holds a B.A. (Hons) in Accounting and Finance and MSc. (Hons) Investments and Treasury.
Further to the announcement made on 22nd August 2017, Hostelworld also announces the following additional board and committee changes:
· Richard Segal will resign as Non-executive Chairman and Chairman of the Nomination Committee with effect from close of business on 1 December 2017
· Michael Cawley, who has held the role of Senior Independent Director since 2015, will succeed Richard Segal as Chairman of the Board and Chairman of the Nomination Committee with effect from close of business on 1 December 2017
· Andy McCue, a Non-executive Director since 2015, will succeed Michael Cawley as Senior Independent Director and Eimear Moloney will succeed Michael Cawley as Chairperson of the Audit Committee with effect from close of business on 1 December 2017.
Richard Segal will remain on the board as a non-executive director until 31 December 2017, when he will resign from the board and all committees of the board, to ensure a seamless and orderly handover to Michael Cawley.
Feargal Mooney, Chief Executive Officer, commented:
"I welcome Eimear Moloney to Hostelworld. Her strong investment management experience will be of enormous benefit to the Group as we execute on our strategic objectives and continue to grow the business.
I would like to thank Richard Segal for his valuable contribution to Hostelworld during his 6-year tenure as non-executive Chairman, during which time the Group underwent significant change and development as both a private and listed business. The Board expresses its deep gratitude for his outstanding guidance and contribution during that time and wishes him well in the future.
I look forward to working with Michael in his role as Chairman of the Company."
Other than those laid out above, the Company confirms that there are no additional details that are required to be disclosed under 9.6.13R of the Listing Rules of the Financial Conduct Authority, with regard to Eimear Moloney, as a newly appointed Director.
ends
For further information please contact:
Hostelworld Group plc
Feargal Mooney, Chief Executive Officer
Mari Hurley, Chief Financial Officer
Tel: +353 (0) 1 498 0700
Weber Shandwick
Nick Oborne
Tom Jenkins
Tel: +44 (0) 20 7067 0000
