ST IVES’ chief financial officer Matt Armitage is set to take charge of the marketing and publishing group when its current chief executive officer steps down.
Armitage, who also serves as group managing director of marketing services, will replace current CEO Patrick Martell as of 1 August. Deputy CFO Brady Gray will succeed Armitage as CFO and join the board on the same date.
Martell will exit the company on 31 July in order to take a senior role at FTSE 250 rival Informa, after a 35-year tenure at the business and five years as CEO.
Armitage said St Ives has created “four strong pillars” as a foundation for a “substantial and differentiated marketing services business”.
“We will continue to drive organic growth through investment and increasing collaboration across our existing businesses and will target further strategically relevant acquisitions that broaden and strengthen our client proposition and provide a platform for strong financial performance,” he said.
St Ives chairman Richard Stillwell said Armitage is the “ideal person” to continue the group’s marketing strategy, having joined from the sector in 2007. He credited incumbent Martell with leading the group through a period of transformation, adding: “When he leaves to take up his new role it will be with our very best wishes.”