CHS Chrysalis

 

TIDMCHS 
 
RNS Number : 2424K 
Chrysalis PLC 
15 April 2010 
 

15 April 2010 
 
 
                            Management Appointments 
 
         Adam Driscoll joins Chrysalis Board as non-executive Director 
                      New Director of Corporate Development 
 
Chrysalis today announces the appointment of Adam Driscoll as non-executive 
Director.  Geoff Howard-Spink is stepping down from the Board with immediate 
effect after 11 years with Chrysalis and Adam will assume his new role at the 
same time. 
 
 Adam has held senior roles and board positions at a range of leading media 
companies spanning a range of sub-sectors including music and publishing.  He 
brings senior Board experience to Chrysalis and unparalleled sector knowledge 
and insight.  Adam is the former co-Chief Executive of the leading independent 
music company MAMA Group plc, where he oversaw the initial joint venture with 
and later sale to HMV Group plc.  Adam has previously held Board positions at 
publishing group A4 plc and music group Channelfly plc. 
 
Chrysalis also announces the appointment of Andrew Kitchen to the newly created 
non-Board position, Director of Corporate Development.  Andrew has over 20 years 
corporate finance and operational experience in the media, telecommunications 
and technology sectors, and in particular, experience in the identification, 
acquisition and disposal of music publishing and copyright assets.  He advised 
Chrysalis on its acquisition of the international music publishing business 
First State Music Group and the integration of this business will be an 
immediate priority upon joining.  Andrew will also focus on developing the 
partnership with major institutional investors and pension funds secured as a 
result of the transaction. 
 
Commenting on the appointments, Chairman Chris Wright said: "The Board and I are 
delighted to welcome Adam as non-executive Director of Chrysalis.  Adam has 
extensive experience as a board director of media and music businesses, and we 
are very excited that he is joining our team.  Andrew's appointment marks the 
next phase of Chrysalis's development as we begin to forge a closer long-term 
relationship with the institutions and pension funds whose investment horizon is 
suited to the long life of music publishing assets. 
 
On behalf of the Board, I would like to thank Geoff for his significant and 
valued contribution over the past 11 years.  He will remain a close friend of 
Chrysalis and we wish him every success in the future." 
 
Adam Driscoll said: "I am excited to be joining Chrysalis, a vibrant and leading 
independent music company.  The business has exciting growth potential and I 
look forward to working closely with Chris, Jeremy and the team to help achieve 
this." 
 
 
Enquiries: 
 
Chrysalis PLC 
Jeremy Lascelles, Group Chief Executive                             020 7465 
6170 
Andy Mollett, Group Finance Director                                   020 7465 
6321 
 
Brunswick 
Tim Burt/Dania Saidam 
     020 7404 5959 
Adam Driscoll began his career in business publishing.  In 1994, he led the 
management buy-out of A4 Publications Ltd, becoming its Chief Executive, 
overseeing its flotation on OFEX in July 1997 and later sale to Galleon Group 
plc in 2002.  He co-founded Channelfly plc in May 1999 and, as its Chief 
Executive, led the acquisition of that company by Stonesthrow Media Ltd in March 
2003 and the subsequent reverse takeover of Campus Media plc in 2005.  That 
transaction created MAMA Group plc, where Adam was co-Chief Executive.  MAMA 
became one of the UK's leading independent music companies and was acquired by 
HMV Group plc for GBP46m in February 2010.  Adam resigned from the company upon 
its sale and continues to be involved in a number of music-related projects. 
 
 
Andrew Kitchen has over 20 years corporate finance and operational experience in 
the media, telecommunications and technology sectors, and was most recently 
responsible for the successful identification, acquisition and subsequent 
disposal of music publishing and copyright assets for an international 
investment bank.  Andrew is a chartered accountant who began his career with 
Ernst & Young in Brisbane and London.  He subsequently served as Chief Financial 
Officer of two ASX-listed companies where he oversaw growth and capital raising 
strategies.  After co-founding and managing a recruitment software company which 
he then sold, Andrew returned to corporate advisory specialising in working with 
major media and telecommunications companies. 
 
 
 
ABOUT CHRYSALIS PLC 
 
Chrysalis PLC is an independent music company.  The Group's principal areas of 
business comprise: Chrysalis Music Publishing which includes the Group's 
international network of music publishing companies, whose purpose it is to 
exploit and grow Chrysalis's rich catalogue of music copyrights; Chrysalis Non 
Music Publishing, which is made up of The Echo Label, a copyright exploitation 
company; Chrysalis Copyrights, the owner of certain Master recordings and 
Flatiron Management, an artist management company.  Chrysalis PLC also owns 
Lasgo Chrysalis, a UK-based wholesale entertainment product distribution 
business which serves both domestic and overseas wholesale, retail and 
entertainment markets with CD, DVD and book products. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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