Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

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

Published 10/01/2017, 05:47
Updated 10/01/2017, 05:50
© Reuters.  Argus Media's Binks steps back into CEO role - memo
LNKD
-
TRI
-

By Mark Tay

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 McGraw Hill's Platts, OPIS and Thomson Reuters (TO:TRI).

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 (NYSE:LNKD) page showed.

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

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.