Tennis ace for football firm
Goals close to hiring CEO as Lloyd joins board
It was announced early this year that Keith Rogers, managing director, has moved to the US to become president of Goals US and international development.
Nick Basing, who took over as chairman of the East Kilbride based company, in May, will tell shareholders at today’s annual general meeting that he has six short term priorities.
These include strengthening the board and a review of operations in Britain and the US.
“We are making good progress. We have concluded the search for a high quality CEO. Our expectation is that we will be able to announce details imminently,” he will say.
Scott Lloyd joins the board with immediate effect. He founded Next Generation Clubs in 1997 having identified the opportunity to innovate and re-define premium, large scale, family-orientated sports and leisure facilities.
Following a roll out of the chain, he led the management buy-out of David Lloyd Leisure from Whitbread and merged David Lloyd Leisure with Next Generation Clubs to create the David Lloyd Leisure Group.
In 2013 David Lloyd Leisure Group was sold to TDR Capital for approximately £750m, where Scott performs the role of non-executive deputy chairman.
Also joining Goals’ board is Christopher Mills, who holds a number of non-executive director positions across a range of companies.
He founded Harwood Capital Management in 2011, a successor from J O Hambro Capital Management, which he co-founded in 1993. He is chief executive and investment manager of North Atlantic Smaller Companies Investment Trust and chief investment officer of Harwood Capital.
Mr Mills was previously a director of Invesco MIM, where he was head of North American investments and venture capital, and of Samuel Montagu International.
Mr Basing will say: “We expect to make a formal announcement on the appointment of a highly capable new senior independent non-executive director imminently.
Current non-executive directors Phil Burks and Alex Short will be stepping down from the board today. Mr Burks is not standing for re-election and Mr Short, who had previously intimated his resignation with effect from 30 June,will leave the board with effect from today.
The review of the company has included a wide ranging view of the market, the performance of the company in recent years and an assessment of all assets that the company operates, along with consumer insights.
Mr Basing will say: “We are drawing it to completion by next week and we will announce the results of this review together with the strategic plan shortly afterwards.
“Our near-term operational improvement plan is being implemented which is solely focused on overall performance of the company and we are encouraged by the early signs.”
He will tell shareholders that like for like sales are marginally negative for the first 18 weeks of the year.
“However, the significant decline in last year’s second half has been eroded. This first quarter of trading in 2016 compares against positive sales growth in the same period last year.”
The company unveiled a loss before tax for year to the end of December of £6.2 million against a £6.8m profit last time.
Sales fell 4.9% from £34.4m to £33m, and by 6.3% on a like-for-like basis. Group Ebitda was down from £14.8m to £11.8m and underlying profit before tax from £10.6m to f £8.3m.