EUROPE - ITE Group has announced its chairman Iain Paterson will step down after 10 years with the company.
He will be replaced by Marco Sodi, who was appointed non-executive director and chairman designate on 1 February and takes over the chairman’s role immediately. Sodi will also assume the chairmanship of the nomination and remuneration committees.
ITE Group CEO Russell Taylor praised Paterson’s efforts during their 10 years together and thanked him personally for his support and help.
“Since Iain was appointed chairman in March 2002, he has led the business through a period of transformation and significant growth in shareholder value,” he said. “As a result of the contribution he has made to ITE, he leaves the business well-positioned to continue its growth and development.
“I look forward to working with Marco as we embark on the next stage of ITE’s development.”
ITE Group reported a 50 per cent boost in Q4 revenue of £31m (US$49.17m) and attributed growth to its purchase of the exhibition assets of Ukranian organising company Autoexpo for US$6m.
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