First Protocol sold to management following CEO departure

First Protocol's Richard Waddington has stepped down as CEO, prompting the remaining directors to purchase the company in an MBO.

First Protocol's CEO steps down
First Protocol's CEO steps down

Waddington is stepping down to pursue personal interests but will continue his contact with the company in a special advisor role.

His departure was primarily supported via a management buy out through the remaining five directors of the company.

First Protocol managing director Mark Riches told C&IT that the board is fully committed to continuing the company's growth, with an eye on the Asian expansion. "We were lucky to be in the position to buy the company, which has no debt and great footing. We've grown our staff in Singapore by five due to recent client wins and are focusing on expanding in Asia."

Waddington was a founder of the company 17 years ago and has been instrumental in the company's progress.

Peter Godfrey, First Protocol's chairman said the Board will miss the vision and drive that Waddington constantly brought to his work, adding that heis delighted that he will return as a special advisor to the Board in the future.

He also stated that through the MBO transaction the management team have demonstrated their full and on-going commitment to the clients, the First Protocol teams and the on-going success of business.

First Protocol recently shared its positive growth outlook and Asian expansion plans.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in

'Working on the inaugural Invictus Games was amazing'

'Working on the inaugural Invictus Games was amazing'

A-List 2020: Rachel Douglass is a senior event manager at Yellow Fish.

Venues #LightItInRed to show support for events industry

Venues #LightItInRed to show support for events industry

Campaign to draw attention to struggling events businesses and employees lights iconic buildings red.

Dear C&IT: Graphs and data are useful but they can’t measure feelings

Dear C&IT: Graphs and data are useful but they can’t measure feelings

Metrics are great but don't forget to create a memorable experience, says Phil Staines from FIRST.

LIVE UPDATES: Kenya begins phased reopening after lockdown

LIVE UPDATES: Kenya begins phased reopening after lockdown

Find out which countries are on partial or national lockdown, what travel restrictions are in place and what size gatherings are allowed.

'We place a huge emphasis on talent development'

'We place a huge emphasis on talent development'

A-List 2020: Michael Gietzen is group managing director at Identity.

How automotive events are changing gear

How automotive events are changing gear

Car manufacturers are more savvy with event budgets and they want to reach more diverse audiences.

Entering a new world of data-driven events

Entering a new world of data-driven events

The current shift to digital has created huge amounts of data we can learn from, says Marble LDN's Rachel Butler.

5 ways technology can help hotels reopen safely

5 ways technology can help hotels reopen safely

New innovations will help hotels solve the challenges of coronavirus so that guests can return, says Louisa Watson of Wyboston Lakes Resort.

Dear C&IT: Diversity should be part of the process right from the start

Dear C&IT: Diversity should be part of the process right from the start

Event planners need to challenge the diversity of their internal teams and their clients, says WRG Live's Steve Porter

'Attention to detail is key'

'Attention to detail is key'

A-List 2020: Stephanie Aviss is an account manager at Top Banana