TIDMKNOS
RNS Number : 0637D
Kainos Group plc
19 June 2023
19 June 2023
Kainos Group plc
("Kainos" or the "Company")
Planned CEO Transition
Kainos Group plc (KNOS), a UK-headquartered IT provider with
expertise across three divisions, Digital Services, Workday
Services, and Workday Products, today outlines the details of a
planned CEO transition that is intended to take place by the end of
September 2023.
After 22 years as CEO, and a total of 34 years of service with
the Company, Brendan Mooney, with the agreement of the Board, has
elected to complete his term as CEO of Kainos by the end of
September 2023. At this time Russell Sloan, currently the Digital
Services Director of Kainos, will assume the CEO role and join the
Kainos Board of Directors.
Brendan joined Kainos as a trainee software engineer on 19 June
1989, undertaking several technical and consulting roles before
being appointed to the role of CEO in June 2001. During his tenure
as CEO, he has led Kainos through a successful IPO on the London
Stock Exchange and turned Kainos into a truly international
business and one of the UK's leading IT providers. Brendan will
continue to serve as CEO until the conclusion of the Company's
Annual General Meeting ("AGM") on 21 September 2023. He will not
stand for re-election to the Board but will remain actively engaged
with the business until June 2024, to ensure an orderly
transition.
Russell joined Kainos on 21 June 1999, also as a trainee
software engineer, before embarking on a series of leadership
roles. Since 2013, Russell has been the Director of Kainos' Digital
Services division, over that period growing the division from 35
people to the global team of 1,600 people it is today, delivering
digital transformation for government, healthcare and commercial
sector organisations. In the most recent financial year, Digital
Services generated over 60 per-cent of Kainos' total revenue.
Brendan Mooney, CEO of Kainos, commented:
"My decision to step down as CEO of Kainos was not an easy one,
but made easier knowing the talent and motivation of the team
leading the business today. I have complete confidence in Russell
to lead us successfully into the future and I look forward to
supporting him and the wider team over the next twelve months.
It has been a wonderful experience to be part of the Kainos
journey: to have worked alongside so many exceptional friends and
colleagues; to have witnessed the positive difference our work has
made for our customers and in society; and to have watched Kainos
grow from a local start-up to a dynamic global firm.
I would like to take this opportunity to thank everyone in
Kainos for creating the special business that we are today; and for
the support they have provided to me personally throughout my
career."
Russell Sloan, Director of Digital Services and CEO Designate,
commented:
"Kainos is a thriving, growing and global business. I am excited
to be taking over the role of CEO in September and look forward to
building on the success that has been created over the past
decades. We have much to be proud of as a team and look forward to
many more achievements in the future.
I would like to thank Brendan for his leadership and support,
and to thank the Board for the confidence placed in me to lead this
exceptional business. I am fortunate to be surrounded by a
remarkable, talented team who will help me execute against the
clear, proven and effective strategy already in place."
Tom Burnet, Chairman of Kainos, commented:
"As a Board, we wish to record our thanks to Brendan for his
outstanding leadership over the past two decades. I am certain that
he will look back on his extensive career at Kainos with a sense of
immense pride. Brendan and Russell have worked closely as
colleagues for many years and today formalises the final stage of
our four-year succession process. We look forward to continuing to
work closely with Russell and supporting him as he continues to
grow the business."
This announcement is made pursuant to LR 9.6.11 of the Listing
Rules.
The Company confirms that there are no other disclosures that
need to be made under Listing Rule 9.6.13 (1) - (6) relating to the
planned appointment of Russell Sloan.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 ("MAR") as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act
2018.
Ends
For further information, please contact:
Kainos via FTI Consulting LLP
Brendan Mooney, Chief Executive Officer
Richard McCann, Chief Financial Officer
Investec Bank plc +44 20 7597 5970
Patrick Robb / Ben Griffiths
FTI Consulting LLP +44 20 3727 1000
Matt Dixon / Dwight Burden / Kwaku Aning
About Kainos
Kainos Group plc is a UK-headquartered IT provider with
expertise across three divisions: Digital Services, Workday
Services, and Workday Products.
-- Digital Services develops and supports custom digital service
platforms for public sector, commercial, and healthcare customers.
Our solutions transform the delivery of these services, ensuring
they are secure, accessible, and cost-effective, and provide better
outcomes for users.
-- Workday Services specialises in the deployment of Workday,
Inc.'s Finance, HR and Planning products to leading organisations
across Europe and North America. We are one of Workday's most
respected partners, experienced in complex deployment and trusted
by our customers to launch, test, expand, and support their Workday
systems.
-- Workday Products develops products that complement Workday.
Our Smart product suite, including Smart Test (for automated
testing), Smart Audit (for compliance monitoring), and Smart Shield
(for data masking), are used by more than 350 customers globally to
safeguard their Workday systems.
Our people are central to our success. We employ more than 2,900
people in 22 countries across Europe and the Americas.
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END
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