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Ten Entertainment chairman to step down in September
25th Mar 2021 10:04
(Sharecast News) - Bowling alley operator Ten Entertainment said on Thursday that chairman Nick Basing has announced his intention to step down from the role after six years.
Ten said a process to appoint Basing's successor was already underway, with the group's chair set to depart in September, following an orderly handover period.
The AIM-listed group stated Basing had been "instrumental" in its development, going underlying earnings tenfold during his tenure and helping boost like-for-like sales for eight consecutive years between 2010 and 2020, prior to the onset of the Covid-19 pandemic.
Basing said: "I believe we are at the sweet-spot of experiential leisure which over the years the team has helped to pioneer. I am confident to be leaving the business in the excellent hands of our first-class leadership and a strong board."
As of 1005 GMT, Ten shares were down 1.57% at 231.30p.
Ten said a process to appoint Basing's successor was already underway, with the group's chair set to depart in September, following an orderly handover period.
The AIM-listed group stated Basing had been "instrumental" in its development, going underlying earnings tenfold during his tenure and helping boost like-for-like sales for eight consecutive years between 2010 and 2020, prior to the onset of the Covid-19 pandemic.
Basing said: "I believe we are at the sweet-spot of experiential leisure which over the years the team has helped to pioneer. I am confident to be leaving the business in the excellent hands of our first-class leadership and a strong board."
As of 1005 GMT, Ten shares were down 1.57% at 231.30p.