Circle Holdings PLC Directorate Change (2384Q)
November 28 2016 - 2:00AM
UK Regulatory
TIDMCIRC
RNS Number : 2384Q
Circle Holdings PLC
27 November 2016
FOR IMMEDIATE RELEASE 28 November 2016
Circle Holdings plc
(the "Company" or "Circle")
Board and Executive Changes
CEO Steve Melton Steps Down
Board Appoints Paolo Pieri as CEO
Circle Holdings plc (LSE: CIRC), the employee co-owned hospital
group, today announces that Steve Melton is stepping down as Chief
Executive Officer on 1 December 2016 and will be replaced by Paolo
Pieri, the Company's current Chief Financial Officer.
Commenting on the Board changes, Chairman Michael Kirkwood said:
"Steve Melton has informed the Board of his decision to step down
as Chief Executive Officer to pursue new opportunities. Steve
joined Circle in 2008, initially as COO, and assumed the role of
CEO in 2012 at a critical moment for the Group and with a mission
to redirect the business. In that time, Circle has progressed
meaningfully and is positioned to benefit from exciting new
opportunities in Rehabilitation, China and MSK services. I would
like to thank Steve for his 8 years of service and, on behalf of
the Board, wish him well for the future. Paolo will assume the role
of CEO effective 1 December. He has been an invaluable member of
the Board and management team since 2011 and a well-respected
communicator of the Circle model to our investors and the wider
market. Under his leadership, the Group will be well placed to
broadly deliver the plans outlined in our H1 results, to continue
our focus on excellent patient care, and to deliver long-term value
for our shareholders. The Board and I look forward to supporting
Paolo in his new role."
Mr Pieri is currently Circle's Chief Financial Officer and has
led the Group's Finance, Legal and Investor Relations functions
over the last 6 years. He has built strong relationships with
financing partners, City analysts, and other key commercial
stakeholders, while also developing new areas of strategic growth
for the Group such as specialised rehabilitation and our MSK
business model. Previously, he held senior finance roles at
lastminute.com plc and the Virgin group.
The Board has appointed Sarah Marston, currently Head of Finance
Operations, to serve as interim Chief Financial Officer. Sarah has
over 15 years' experience in the healthcare sector, serving in
senior financial and operational roles at BMI, Spire, and Bupa.
Steve Melton said: "I am confident that Circle's differentiated
approach and relentless pursuit of excellence in patient care form
the foundation for strong growth as the business enters the next
exciting phase of its development. I am proud to have been a Circle
partner for the past eight years, and privileged to have led the
organisation for the past four. "
Paolo Pieri said: "Circle has been a leading innovator in
delivering improved patient care. I believe now is an exciting time
to build on this innovation to deliver tremendous value to our
shareholders, our patients and our many partners."
For further information, please contact:
Circle Holdings plc +44(0) 20 7034 5258
Michael Kirkwood, Chairman
Alex Singleton, Head of Communications and Marketing
Numis Securities Limited +44(0) 20 7260 1000
Michael Meade, Nominated Adviser
Alex Ham, Ben Stoop Corporate Broking
This information is provided by RNS
The company news service from the London Stock Exchange
END
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