SimplyBiz adds Forte's Hughes to board

SimplyBiz adds Forte's Hughes to board

SimplyBiz has appointed a new senior independent non-executive director and member of its audit committee.

With effect from yesterday (January 8), Gary Hughes took up the non-executive position and is due to be appointed as head of the audit committee following the announcement of the group’s results for the year ended 31 December 2018.

Mr Hughes is a chartered accountant who previously held the position of finance director at hotel firm Forte Plc, media company Emap Plc and betting and gaming business Gala Coral Group.

Mr Hughes was also a non-executive director and chaired the audit committee at supermarket chain J Sainsbury Plc for 10 years, and Booker Group Plc for two years.

Mr Hughes previously advised on the board of Apax Partners for a number of the private equity firm’s investments, a role he left in 2018.

Ken Davy,  non-executive chairman at SimplyBiz, said: "I am delighted to welcome Gary to the SimplyBiz Board.

"He brings a wealth of public company experience and will complement the range of skills we currently have on the board. We all look forward to working with Gary."

In December last year, non-executive director David Etherington left the role to focus on other business interests.

In September, SimplyBiz reported its profits had been hit by the cost of floating on the London Stock Exchange, posting an operating profit of £1.2m for the six months to the end of June 2018 - down from £3.9m for the same period the previous year.

The company said this had been caused by costs of £3.6m relating to its initial public offering earlier last year, which raised £30m for the company.