GB Group chief to step down

GB GROUP, a listed identity data specialist based in Chester, has announced that its chief executive Richard Law is to step down after 13 years.

Law is moving on due to family matters, which he said can be best served by him following a more flexible portfolio career.

He will continue as chief executive until a replacement is found and recruitment consultants have been appointed to search for a new chief executive.

The group also announced a better than expected increase in adjusted operating profit to £13.4m for the year to the end of March 2016 (2015: £10.8m).

It said its results were particularly impressive given that the business invested an additional £3.4m during the year to increase the scale and reach of its international operations, strengthen the senior management team and develop new products for its growing markets.

It said these initiatives have bolstered GB Group’s strategic position and given the company strong momentum.

Law said: “The business has delivered excellent results in the year just ended and is in very good shape as we enter the new financial year.

“The board, senior managers and the wider organisation are first class and have created a business which is now an international world leader in the field of identity data intelligence. I’m committed to ensuring that this success continues and will provide any assistance necessary in both finding a successor and transitioning once they are in place.”

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