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Hibu chairman and CEO set to stand down following financial restructuring

Hibu has today announced that CEO Mike Pocock, chairman of the board Bob Wigley, and its non-executive directors will stand down following the completion of its financial restructuring.

Hibu, previously known as Yell Group, launched its first marketing campaign since its rebrand earlier this month.

Pocock commented: "During this challenging period, we have remained focused on delivering the restructuring whilst implementing and executing our transformational strategy and I am pleased with the progress that our entire management team has made in such a difficult environment.

“Today's announcement will enable an orderly leadership transition that is in the best interests of our customers, suppliers and employees and I look forward to leading the company to the completion of the restructuring. I would like to thank Bob Wigley for his careful stewardship as chairman of the board."

While no replacement for Pocock has been announced yet, Alfred Mockett is set to be appointment as chairman of the board when the financial restructure is complete, with early 2014 given as the predicted timeline.

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