Martha Lane Fox Steps Down

Martha Lane Fox,‘s Group Managing Director, has told the Board that she wants to stand down from her executive role at the end of 2003.  Martha will be staying on with the Company as a Non-Executive Director and, of course, as a major shareholder. 
Ian McCaig, appointed COO in August 2003, will take on Martha’s responsibilities and will today join the board as an Executive Director. 

Commenting on her decision, Martha Lane Fox said:
“It has always been my ambition to see the Group deliver a full year of profitability.  Now this has been achieved, it is the right time for the business and the right time for me to explore other challenges.  I am delighted to be continuing to help grow this exciting business from my new role as a Non-Executive Director.”

Brent Hoberman, Chief Executive Officer, said:
“Martha and I have worked together for six amazing years and her contribution has been tremendous.  I am now looking forward to continuing my work with Ian who has made a strong impact since he joined in August 2003.  With him and the rest of the senior management team, including our new French Managing Director Pierre Paperon, we look forward to delighting more and more customers through the Group.”

Allan Leighton, Chairman, commented:
“Martha, as co-founder of the Company, has played a major role in the progress of and we are pleased that she will stay on the board as Non-Executive Director.  We all wish her success in whatever she chooses to do.  Ian’s appointment to the board supplements three other significant additions this year - Clive Jacobs as Executive Vice Chairman and Sven Boinet and Agnès Touraine as Non-Executive Directors - placing our senior team in a strong position to deliver our goals over the next year.”