ITE Group announced in a name change and new brand identity: Hyve Group plc.
Hyve Group CEO Mark Shashoua Unveiled the new brand in London on 20th September.
An official statement issued by the group says “The company says the rebrand reflects the evolution of the Group’s business resulting from its Transformation and Growth programme (TAG) announced in May 2017 and now nearing completion”.
“Through the TAG investment we have built a dynamic scalable platform, improved processes and enhanced systems, completed the acquisitions of Ascential Events and Mining Indaba, as well as the disposal or closure of over 150 events. These significant developments have led to the creation of a stronger and more diversified portfolio, with a focus on market-leading events,”.
Hyve Group now claims it is a fundamentally different business and has transformed into:
A global presence not purely focused on emerging markets
A centralised operating model not a decentralised federal organisation
A premium product business not a geographic market-share led company
A Group of market-leading events rather than a broad portfolio of mixed quality
Mark Shashoua, while unveiling the logo informed that, since he took the helm in 2016, the Group had fundamentally changed from a portfolio of decentralised, emerging markets events into a global business, focused on running market-leading events, wherever they may be in the world.
“We are now in a better position than ever before,” Mark said. “Following four years of decline, FY18 was the second consecutive year of like-for-like growth, including double-digit growth from our Top 10 events, and was the first year of growth in both volume and yield since 2014.
Mark further said “We believe our model gives us a distinctive competitive edge as customer needs evolve and we aspire to set the standard for our industry.”
The new company website is www.hyve.group with effect from 20 September.
The change of name will not affect any shareholders’ rights. Shareholders existing share certificates remain valid.