January 10, 2017 / 6:55 AM / 2 years ago

Argus Media's Binks steps back into CEO role - memo

SINGAPORE (Reuters) - Argus Media chairman Adrian Binks will resume the role of chief executive at the energy news and price reporting agency, eight months after the announcement of its sale to U.S. investment firm General Atlantic, the company said in an internal memo.

Binks, 62, who helped drive strong growth at Argus during his 31 years at the helm, stepped down as CEO in mid-2015, but stayed on at the group through its sale for nearly 1 billion pounds ($1.2 billion) in a deal for founding shareholders to sell out.

He will take over as chief executive from Neil Bradford, who had decided to leave the business and resign his directorships after leading last year’s sale, Binks wrote in an internal email to staff seen by Reuters.

“Neil agreed to stay on after the closing of the transaction on 30 September 2016 at the request of General Atlantic to ensure that the new shareholder settled in to the company smoothly and efficiently,” Binks added.

Argus competes with news and pricing agencies such as S&P Global Platts, OPIS and Thomson Reuters (TRI.TO).

Binks, who retained the bulk of his significant shareholding in Argus, also said 18-year Argus veteran and current chief financial officer Stuart Ashman will take on the new role of Chief Risk Officer and Company Secretary.

Andrew Given, who has been with General Atlantic for six years, was appointed as Argus’s interim CFO and will sit on the company’s main board.

Bradford, who will remain an investor in Argus, joined the firm as its Chief Operating Officer in 2010, his LinkedIn page showed.

Argus did not immediately respond to queries on the management changes.

(This story corrects company name to S&P Global Platts in 5th paragraph)

Reporting by Mark Tay; Editing by Richard Pullin

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below