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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GoCo Group plc    GOCO   GB00BZ02Q916

GOCO GROUP PLC

(GOCO)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/21 11:35:04 am
129.8 GBX   +1.41%
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GoCo : Appointment of new Chief Financial Officer

07/03/2020 | 07:20am EST

GoCo Group plc 3 JULY 2020

Appointment of new Chief Financial Officer

GoCo Group plc (the "Group") announces today the appointment of Alan Burns as Chief Financial Officer and that Nick Wrighton will step down from the Board after a handover period and leave the business after 4 years in the role.

Alan has extensive experience of working within consumer digital and technology sectors, including senior management roles at Photobox Group between 2011 and 2019 and prior to that at Expedia Inc. At Photobox, he was part of the senior management team that built an international multi-brand group of businesses - including through the acquisitions of Moonpig, Hofmann, posterXXL and Greetz - delivering innovative personalisation and customisation creation tools to consumers, and thereby delivering substantial value to investors. At Expedia Inc, he oversaw the growth of the European business comprising the Expedia, Hotels.com and private label brands, and then subsequently provided financial leadership through a period of high level of global growth at Hotels.com. In addition to these roles, he has held a number of senior financial positions in technology enabled businesses including Spotahome, Autoquake and TV Travel Shop.

Alan will join the company on 1 September 2020 and take up the position of CFO and join the Board on 1 October 2020, subject to the normal regulatory approvals.

Nick will leave the company and step down from the Board on 1 October, ensuring an orderly succession process. As CFO of the Group, Nick has made a significant contribution to the senior management team that led the Group's demerger from esure Group PLC and subsequently developed the Group from a simple price comparison service into the business that it is today - a technology platform built around the purpose of saving customers time and money across a number of services needed in everyday life. Prior to working at the Group, Nick was Deputy CFO at esure Group PLC.

Sir Peter Wood, Chairman of GoCo Group plc, said:

"The Board welcomes Alan to the Group. I'm sure his knowledge and experience will be of great benefit as the Group continues to evolve its offer via its technology platform.

The Board and I also wish to thank Nick for his valued contribution and commitment to the development of the business. We wish him well in his new endeavours."

Matthew Crummack, CEO GoCo Group plc said:

"I am delighted that Alan is joining us as GoCo continues its evolution into a fully-fledged technology business offering customers simple solutions to save time and money. His experience will be invaluable as we develop higher quality revenue streams from our AutoSave business and other initiatives.

I'd like to thank Nick for his significant contribution at GoCo. His stewardship of our financial resources and oversight of our financial systems, all played a significant role in the evolution of our company."

For further information:

Nick Edwards

Chris Barrie / Jos Bieneman / Elizabeth Kittle

General Counsel and Company Secretary,

Citigate Dewe Rogerson

GoCo Group plc

t: 01633 654 060

t: 0207 638 9571

e: cosec@gocompare.com

e: gocompare@citigatedewerogerson.com

Notes

1. Matthew and Nick will update on the Group's H1 2020 performance as scheduled on 30 July 2020.

  • 2. Alan will join the GoCo Group on 1 September 2020 and take up the position of CFO and join the

    Board on 1 October 2020, subject to the normal regulatory approvals. Alan, 46, holds a Batchelor of Arts degree in Geography from the University of Sheffield and is a Fellow of the Institute of Accountants in England and Wales.

  • 3. In July 2010 Alan joined the board of Autoquake Limited. At that time, Autoquake Limited was experiencing operational and financial challenges and Alan joined the board as part of a turnaround team. Although significant progress was made, the funding required to fully implement the turnaround of Autoquake Limited could not be raised and a buyer for the business and/or assets of Autoquake Limited could not be found. In March 2011 the directors placed Autoquake Limited into insolvent administration. There are no additional details to disclose under Listing Rule 9.6.13 R in respect of Alan's appointment.

  • 4. Alan's remuneration package will consist of a basic salary, benefits and variable incentive arrangements which are in line with the Group's remuneration policy approved by shareholders in 2020. The key elements of Alan's remuneration package are as follows:

    • a. Base salary of £330,000;

    • b. Pension contribution of 6% of base salary.

    • c. Incentives and other benefits will be in accordance with the Group's approved remuneration policy. Alan's annual bonus maximum award will be 75% of base salary and the usual annual LTIP grant will be 150% of base salary.

    • d. Notice periods of 12 months by the Group and 12 months by Alan.

  • 5. Details of any payments to Nick Wrighton after he ceases to be a director will be consistent with the Group's remuneration policy approved by shareholders in 2020. Details of any such payments to be made to Nick will be posted on the Group's website, in accordance with section 430(2B) Companies Act 2006 and will be disclosed in the Group's Annual Report and Accounts for the

  • year ending 31 December 2020.

  • 6. The LEI for Goco Group plc is 213800DUUN4C47JEL561.

Disclaimer

Gocompare.com Group plc published this content on 03 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 July 2020 11:18:06 UTC


© Publicnow 2020
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Financials
Sales 2020 167 M 229 M 229 M
Net income 2020 15,8 M 21,7 M 21,7 M
Net Debt 2020 69,7 M 95,8 M 95,8 M
P/E ratio 2020 34,4x
Yield 2020 0,70%
Capitalization 547 M 752 M 752 M
EV / Sales 2020 3,70x
EV / Sales 2021 3,28x
Nbr of Employees 352
Free-Float 68,7%
Chart GOCO GROUP PLC
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GoCo Group plc Technical Analysis Chart | GOCO | GB00BZ02Q916 | MarketScreener
Technical analysis trends GOCO GROUP PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 127,00 GBX
Last Close Price 129,80 GBX
Spread / Highest target 7,86%
Spread / Average Target -2,16%
Spread / Lowest Target -19,1%
EPS Revisions
Managers and Directors
NameTitle
Matthew Crummack Chief Executive Officer & Executive Director
Peter John Wood Chairman
Jackson Hull Chief Operating & Technology Officer
Alan Burns Chief Financial Officer & Director
Angela C. Seymour-Jackson Deputy Chairman
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