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
The future of event feedback

The future of event feedback

A look at how new technology is changing the nature of feedback for event planners.

SevenEvents hires new project manager

SevenEvents hires new project manager

Jade Davies joins from Touch Associates and her new role will include developing client relationships.

Cievents VP talks US market trends, challenges and opportunities

Cievents VP talks US market trends, challenges and opportunities

Alison Howlett, vice president of live events, talks about creating business opportunities, US trends and popular destinations.

Case study: PPA Festival at Tobacco Dock

Case study: PPA Festival at Tobacco Dock

The Professional Publishers Association held an education festival in May 2018 with guest speakers including politicians and actors.

New director and event coordinator for Pure

New director and event coordinator for Pure

Agency promotes client services director and hires event coordinator to strengthen the team.

Loganair to take over cancelled Flybmi routes

Loganair to take over cancelled Flybmi routes

Glasgow-based company Loganair has stepped in start flying five of Flybmi's routes from next month.

How to increase your sustainability credentials

How to increase your sustainability credentials

Sustainability can be achieved with simple actions, says Elizabeth Thomas from the International Corporate Governance Network.

London venues hosted 37% more events in 2018

London venues hosted 37% more events in 2018

Year-on-year increase from Unique Venues of London shows strong demand for events in the capital.

Why you should design human-centric experiences

Why you should design human-centric experiences

At EMEC19 in The Hague, Kim Myhre of MCI Experience gave an insightful talk on design-thinking in events.

New event producer for HGA

New event producer for HGA

Becky Jones-Williams has previously worked at Event Concept and will work for clients in a range of sectors.

LATEST JOBS