Directorate Change
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itim Group plc, a SaaS based technology company that enables store-based retailers to optimise their businesses to improve financial performance, announces the appointment of Colin Price as Non-Executive Chairman of the Board, with immediate effect. Mr. Price succeeds Michael Jackson, who is stepping down from his role as Non-Executive Chairman with immediate effect but will remain on the Board as a Non-Executive Director.
Colin Price brings a wealth of experience in consulting, operations, and academia to his new role. His extensive background includes:
| · | 15 years as a partner at McKinsey & Company, including seven years as the worldwide leader of McKinsey's Organisation Practice |
| · | CEO of Heidrick Consulting |
| · | Chairman of Co-Company, a boutique consulting firm focused on organisation development |
| · | COO of Quintet Private Bank |
| · | Co-founder of Talos Capital, an investment vehicle focused on AI in financial services |
- Price also holds academic positions as a Visiting Fellow at Said Business School, University of Oxford, and as a Visiting Professor at the Institute for Global Health Innovation, Imperial College. He is the author of several influential books on business performance and organisational development.
The Board would like to express its gratitude to Michael Jackson for his leadership as Non-Executive Chairman and looks forward to his continued contributions as a Non-Executive Director.
Ali Athar, CEO, said: "We are delighted to welcome Colin Price as our new Non-Executive Chairman. His exceptional track record in organisational transformation, coupled with his deep understanding of strategy and leadership, makes him an ideal fit for guiding itim through our next phase of growth. We look forward to benefiting from his insights and experience as we continue to strengthen our market position and drive innovation. We extend our sincere gratitude to Michael Jackson for his invaluable leadership as Chairman. We're pleased that he will continue to contribute his expertise as a Non-Executive Director, ensuring a smooth transition and ongoing access to his wealth of knowledge."
Additional information
Colin Neil Price, aged 66, does not own any shares in the Company but as part of his employment contract he has been issued options over 250,000 ordinary shares in the Company at an exercise price of 34p. These vest immediately and are exercisable at any time over the next 10 years.
A list of Colin's current directorships and partnerships together with those held within the last five years is set out below:
| Current appointments | Appointments within previous 5 years: |
| Accelerating Performance Consulting Limited | Abacai Technologies Limited |
| Talos Capital (UK) Limited | Key Topco Limited |
| Timeless Releasing LLP (LLP Member) | Hyperperformance Limited |
Complete Cover Group Limited
Meribel Ski Flat SARL
In addition, Colin is an LLP Member of D III LLP (previously, the Film Development Partnership III LLP) ("DLLP"). DLLP is currently in liquidation. Winding up commenced on 15 December 2021. DLLP was created as an investment vehicle for a film partnership in 2004 for which Colin is an investor alongside c.100 other LLP Members. The investment scheme was not successful and accordingly given the length of time that has now elapsed, the members of DLLP, including Colin, have petitioned the court for the winding up of the DLLP as part of the administrative process of closing it down. HMRC have submitted a preferential creditor claim against DLLP for c£64m but following recent correspondence with the joint liquidators of DLLP it is now anticipated that this claim will be withdrawn.
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