4 minute read
Business News
ROGERS’ RETIREMENT: CEO ANNOUNCES PLANS TO STEP DOWN
Advertisement
WARRIORS APPOINT NEW DIRECTOR OF RUGBY
Steve Diamond will become Warriors’ Director of Rugby from the end of this season on a two-year contract. Diamond was appointed Lead Rugby Consultant in November and he will continue in that capacity for the remainder of this season before succeeding Alan Solomons as Director of Rugby when Solomons retires from coaching at the end of June. Diamond will take charge of the rugby programme immediately with Solomons providing support as needed. “Having taken the time to work with Steve in his role as a Lead Rugby Consultant, it was the logical decision to offer him the role as Director of Rugby for the next two seasons.” said Warriors co-owners Colin Goldring and Jason Whittingham. “Steve is an experienced and proven Director of Rugby with the qualities needed to take the club to the next level and achieve our ambitions of competing at the top end of the Premiership. “We have invested a great deal into ensuring we have all the right ingredients for the club to reach its full potential. “We have unwavering confidence in the strength of the players and the ability of the club to achieve that goal. We will continue to do everything we can to achieve it.” Diamond, who played more than 350 games for Sale in a career that spanned the amateur and professional eras, has a proven track record as a coach with Sale, Saracens and the Russia national team.
www.warriors.co.uk
“It’s time for the next generation to step up and shine.” That’s the message from Paycare CEO Kevin Rogers as he prepares to step down from his role.
He is set to continue in post for now, but to ensure a smooth handover Kevin made the announcement to his team so they can begin preparing for his departure later in the year. Kevin is expected to leave later in 2022 once the new management team is authorised by the organisation’s financial regulators, and intends to spend more time concentrating on his roles as Chair of Wolverhampton Foundation and Trustee of Wolverhampton LGBT+ - with a few rounds of golf planned too! Anthony Burns, Paycare’s current Commercial Director will be following Kevin in the role of CEO subject to regulatory approval.
www.paycare.org
BRIDGING THE GAP – DEFERRED CONSIDERATION IN ACQUISITIONS
Many business sales are structured with part of the price being deferred - often to bridge the gap between sellers’ expectations, and buyers’ views on valuation and risk.
Deferred consideration comes in a variety of forms, such as cash, loan notes, shares, earn-outs, retentions and completion account adjustments. A savvy seller should ensure the buyer provides security in respect of any deferred consideration. Legal charges, debentures and personal or company guarantees are often used as a way of providing security for the outstanding deferred consideration, which should fall immediately due on non-payment, an insolvency-type event, or a change of control of the buyer. A seller should also retain some control over the buyer’s running of the business sold until the entire deferred consideration is paid. These controls can include restrictions on spending, borrowings, salary increases, and obligations to keep the target business and its trading intact. For more information, readers can email Daniel Southall at mfg Solicitors through daniel.southhall@mfgsolicitors.com.
www.mfgsolicitors.com
A leading apprenticeship provider is urging Worcestershire engineering businesses to take advantage of regional incentives to develop the next generation of highly-skilled workers.
College group, WCG, is a nationally renowned engineering apprenticeship provider and trains engineering apprentices at its Evesham College. Figures from Skills4Worcestershire show that there are around 32,000 engineers in Worcestershire, which is around 150 per cent more than the national average, and there are 2,285 businesses within the region’s advanced manufacturing and engineering sector. The college group was awarded the Queen’s Anniversary Prize for Higher and Further Education in recognition of its engineering apprenticeship programmes. WCG has pioneered employer-centric provision and rapidly responded to the changing needs of the industry. A trio of incentive schemes are available to Worcestershire businesses to encourage and support them to take on apprentices, which can all be found on WCG’s new webpage wcg.ac.uk/employerincentives. Krishna Parekh, Head of Business Development at WCG, said: “Engineering and manufacturing is a key growth sector for the economy in Worcestershire and it’s vital that there is a pipeline of highly-skilled individuals to drive the sector forward. “We have been working closely with a number of engineering employers in the region to develop our apprenticeship programmes and ensure they are responding to the needs of industry. “However it is clear that many businesses, not limited to the engineering sector, aren’t aware of the range of incentives available from local, regional and national Government to take on apprentices. “National Apprenticeship Week shined a light on the importance of apprenticeships and they are central to the national skills strategy moving forward. We hope more businesses will become aware of these incentives and consider apprenticeships as a way of future-proofing their workforce.” To find out more about apprenticeship incentives available to employers in Worcestershire visit
wcg.ac.uk/employerincentives.
Hassle free holiday let management across multiple listing platforms
Make more money every month with rate optimisation and flexibility
Property cleaning, tailored marketing and professional guest communication
management@guesthomes.co.uk 01905 347469 www.guesthomes.co.uk Properties listed on: Follow us on
From Studios to Cottages
Family Homes to Luxury Farmhouses
