FOR IMMEDIATE RELEASE: 8 April 2011
Global Shares announces a change in management
8
April 2011 - Global Shares PLC (the 'Company'), a leading provider of
global share plan administration and consulting services, is announcing
that Carine Schneider, one of the co-founders and current CEO, will be
leaving the Company as the CEO effective the end of April. Carine will
remain on the Board of Directors and will continue to be a significant
shareholder of Global Shares. The Board has asked Tim
Houstoun, current CFO and COO, to manage the day-to-day activities of
the company while the Board evaluates the current structure of the
management team. Tim is based in Clonakilty, Ireland.
Carine
Schneider states: "In the past 5 years, we have built a world class
company that supports some of the largest and best known companies in
the world. I am proud to have been the CEO during the time of
exceptional growth and look forward to supporting the continued
development of the company as a non-executive Director. I feel it is in
the interest of the Company to have the day to day management based in
Ireland and with the company doing well, this was a good time to make
the change."
Chairman
Richard Hayes adds, "We thank Carine for her vision, leadership and
execution over the past 5 years. Global Shares has a strong reputation
in this business thanks to the hard work of Carine and Maoiliosa
O'Culachain and the entire team. Managing a high growth company from
California has been a challenge for her and we accept her personal
choice to leave as CEO, but happily Carine will remain with the Company
as a Board member. Global Shares has reached profitability and has a
strong and experienced management team to continue to support its global
customers and provide excellent service."
Background on Global Shares
Ever
changing legislation and regulation, including changes in financial
reporting obligations, combined with zero tolerance of corporate
governance breaches have led to a dramatic increase in the demand for
professional expertise in the market for stock plan administration and
related consulting services. To service this market,
Global Shares has built a strong management with an established track
record in global markets for the provision of stock plan administration
and consultancy services over the course of the past five years. The
Company has established operations in San Francisco, New York, London,
and Shanghai with the main administration centre located in West Cork,
Ireland. The Company currently employs 40 people worldwide and supports more than 85 clients in 17 countries on 5 continents.
CONTACT:
Tim Houston thoustoun@globalshares.com
+353 86 602 0617
