Hostelworld Group PLC CEO Succession (8906N)
14 Mai 2018 - 8:00AM
UK Regulatory
TIDMHSW
RNS Number : 8906N
Hostelworld Group PLC
14 May 2018
LEI:213800OC94PF2D675H41
Hostelworld Group plc
("Hostelworld" or the "Group")
CEO Succession
Monday, May 14, 2018 - Hostelworld, the world's leading
hostel-focused online booking platform today announces that, after
16 years with the Group and 10 years as Chief Executive Officer,
Feargal Mooney will step down as CEO and director effective Monday,
11th June after the Company's AGM. Following a thorough and
rigorous search process, the Board is pleased to announce that Gary
Morrison will become the Group's new CEO and director also
immediately after the AGM.
Gary joins the Group from Expedia where for the last seven years
he served in a number of roles, most recently as Head of its Retail
Operations. Prior to that he headed up Expedia's EMEA region
presiding over a period of considerable and sustained growth. Prior
to Expedia, Gary worked with Google and Motorola.
Feargal joined Hostelworld Group 16 years ago, shortly after it
was established. He has served as Chief Operations and Finance
Officer and, since 2008, as Chief Executive. During that time he
has made a singular contribution to the Group's development,
initially in private ownership, before transitioning to private
equity and finally steering the Company to a successful IPO in
2015. He has led the globalisation of the business including the
development of offices in Shanghai, Seoul and Sydney. He has been
one of the leading campaigners for the hostel industry during his
time as Chief Executive.
Michael Cawley, Chairman of Hostelworld commented: "Feargal has
been speaking with me and the Board about his plans for the long
term and consequently some months ago we focused our attentions on
succession to facilitate an orderly transition. We are delighted to
appoint a candidate of Gary's calibre and experience to succeed
Feargal. Gary's experience of the travel industry together with his
track record of growth in an online marketing business make him an
ideal choice to drive the business forward and deliver on our
ambitious goals.
The Board would like to express its profound appreciation to
Feargal for his stellar contribution to the Group over the last 16
years. His role in Hostelworld's development has been crucial and
undoubtedly Hostelworld wouldn't occupy its pre-eminent position in
the market were it not for Feargal's commitment and leadership. He
leaves behind a business with significant competitive advantages
and momentum. We wish him every success in his future
endeavours."
Feargal Mooney commented: "Leading Hostelworld from start-up to
PLC has been a real honour and I've loved every step along the way.
It has been, and continues to be, a really fun and interesting
business, and I've had the privilege of working with some
enormously talented and supportive people over the years I've been
here. After sixteen years developing the business, ten as Chief
Executive, I believe that a change will be good for me personally
and for Hostelworld. I am proud to have been a part of bringing
Hostelworld this far and in particular to have progressed the key
strategic pillars which formed the basis of our stock market
flotation in 2015. I am delighted to hand over to Gary Morrison to
whom I extend my congratulations, and I am confident that Gary and
the team will lead Hostelworld to even greater levels of success in
the years ahead."
Gary Morrison commented: "I'm honoured and grateful to the Board
for the opportunity to lead this exceptional business. The
Hostelworld Group has been very successful at delivering social
travel experiences for almost 19 years, and I am looking forward to
working with the Hostelworld team, the Board, Hostellers and our
partners to deliver the next phase of growth".
Gary Morrison will be appointed as a Director immediately after
the Company's AGM on 11 June 2018. There is no information to
disclose under LR 9.6.13 R of the UK Listing Authority's Listing
Rules in respect of Gary Morrison's appointment.
ends
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Hostelworld Group plc
Feargal Mooney, Chief Executive Officer +353 (0) 1 498 0700
Michael Cawley, Chairman +353 (0) 1 498 0700
Powerscourt hostelworld@powerscourt-group.com
Lisa Kavanagh + 44 (0) 20 7250 1446
Selene Alford/Jack Hickey +353 87 642 88 44 / + 353 83 4488
339
Note:
At the Company's Annual General Meeting convened for 11 June
2018, the Chairman will seek the consent of shareholders to
withdraw the resolution to re-elect Feargal Mooney as a director of
the Company.
About Hostelworld Group
Hostelworld Group is the world's leading hostel-focused online
booking platform. Connecting travellers with hostels around the
world, Hostelworld offers more than ten million customer reviews
across 36,000 properties in more than 170 countries, making the
brand the leading online hub for social travel. The website
operates in 19 different languages and mobile app operates in 13
different languages.
Hostelworld travellers are a unique, passionate breed; they want
to see the world, make new connections and crave the adrenaline of
new adventures. Hostelworld inspires them to 'Meet the World'
through the social nature of hostels that turbo-charges their
journeys and helps create unforgettable memories.
Headquartered in Dublin, Hostelworld has offices around the
world in London, Porto, Seoul, Shanghai and Sydney with
approximately 290 employees. The Hostelworld Group listed on the
main London and Irish stock exchanges in November 2015.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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