Euromoney Institutional Investor PLC (LON:ERM), the global B2B information business, providing price discovery, essential market intelligence and events, today announced that the Board has appointed Tim Pennington as an additional independent non-executive Director of the Company. Mr Pennington will join the Board on 1 September 2019 and will join the Audit & Risk Committee as an additional committee member from that date.
Further to the announcement of 26 March, it is confirmed that Jan Babiak will step down as a member of the Audit & Risk Committee on a date to be determined following the approval of the 2019 financial statements. Ms Babiak agreed to serve as a committee member on an interim basis in light of her other business commitments.
Tim Pennington is currently Chief Financial Officer of Millicom International Cellular, a significant international telecommunications company listed on the Nasdaq stock exchanges in both New York and Stockholm. Tim was previously Group Finance Director and a director of FTSE 100 groups Cable & Wireless plc and, following its demerger from that company, Cable & Wireless Communications plc.
His early career was in investment banking where he specialised in the telecommunications sector with HSBC before joining the Hutchison Whampoa group, first as the Chief Financial Officer of Hutchison 3G UK and then Hutchison Telecommunication International, a leading Asian telecoms group, listed on the Hong Kong and New York Stock Exchanges.
Commenting on today’s announcement Leslie Van de Walle, Chairman of Euromoney, said: “I am looking forward to welcoming Tim Pennington to the Board following a rigorous search and selection process. His considerable career experience as a CFO of globally listed businesses, with a focus on telecommunications and listed company governance, will be invaluable to the Board and the Audit & Risk Committee in particular.”
Tim Pennington commented: “I am delighted to be joining the Board of Euromoney, which stands out as a FTSE group with a distinguished corporate history and exciting prospects in its various global markets. I greatly look forward to giving full support to the Board, and Andrew Rashbass’s executive team as they deliver the Group’s strategy into the next decade.”