Further to the announcement of 23 September 2022, the Company today announces that Tom Allsworth (Executive Chairman) and Adam Minto (CEO) have voluntarily agreed to step away from the day-to-day management of the business for the time being, in order to allow them to support the independent investigation being carried out by Forensic Risk Alliance and Macfarlanes.
This decision to step away is not a result of any matter arising from the independent investigation to date. The Board, including Tom and Adam, considers that at the current time, the Group requires an operational leader that can devote their full time and attention to managing the Group’s business and lead the ongoing discussions with the Group’s stakeholders, including customers, suppliers and banking partners. Tom and Adam will remain Directors of the Group but will not take part in any day-to-day decisions concerning the Group until completion of the independent investigation.
In light of Tom and Adam temporarily stepping back from day-to-day involvement in the business, the Company has appointed Bob Holt OBE as Interim Chief Operating Officer, subject to completion of customary regulatory due diligence. Bob has been appointed on an interim basis pending the completion of the independent investigation to provide leadership for the Company whilst that investigation is ongoing. Bob will not be a director of the Company and will report directly to the Group board.
Bob Holt is a highly experienced public company executive who has successfully led a number of PLCs through flotations and turnarounds, most recently as Chairman of SureServe Group plc, Totally plc and Mears Group plc.
Further announcements will be made as appropriate.
Congratulations to C2S Member Bob Holt – we are very proud of the caliber and expertise of your member community.
