– UK, Cheadle – On the Beach Group plc (LSE: OTB.L), the UK’s leading online retailer for beach holidays, today announces that Richard Segal has informed the Board of his intention to step down as Non-Executive Chairman, a position he has held since October 2013.
After a period of transition, Richard will be succeeded by Lee Ginsberg, currently Senior Independent Non-Executive Director, at a date yet to be confirmed. At that time, David Kelly will become Senior Independent Director. Lee and David have both been on the Board of the Company throughout its life as a listed entity. The Nomination Committee has commenced the process for recruiting a new non-executive director.
Simon Cooper, Chief Executive of On the Beach Group plc, commented: “I would like to take this opportunity to thank Richard for his counsel and guidance over the last five years. He led the Group through a period of strong change and growth, as both a private and listed business, and the Board wishes him well in his future endeavours.”
About On the Beach
With over 20% share of online sales in the short haul beach holiday market, we are one of the UK’s largest online beach holiday retailers. We have significant opportunities for growth and a long-term mission to become Europe’s leading online retailer of beach holidays. By using our innovative technology, low-cost base and strong customer-value proposition to provide a structural challenge to legacy tour operators and travel agents, we continue our journey to disrupt the online retail of beach holidays. Our model is customer-centric, asset light, profitable and cash generative.
For more information : http://www.onthebeachgroupplc.com
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