ebookers plc announces board changes
14 July 2004- ebookers plc (Nasdaq - EBKR, LSE-EBR) www.ebookers.com, the
pan-European online travel company, today announces the appointment of Jim
Treacy as non-executive director with effect from yesterday. Mr Treacy is the
former President and Chief Operating Officer of Monster Worldwide, NASDAQ -
MNST (formerly TMP Worldwide) owners of the world's leading online careers
This appointment is part of an ongoing programme of restructuring the board of
ebookers. This will include the future splitting of the role of Chief Executive
and Chairman in accordance with the guidelines of the new Combined Code, which
incorporates the recommendations of the Higgs Review. Dinesh Dhamija will
retain the position of Chief Executive and the company has appointed a search
and selection firm to put forward candidates for the appointment of
With the appointment of Jim Treacy, Jeffrey Sampler steps down from his
Non-Executive Director position.
Dinesh Dhamija, Chairman and CEO ebookers plc, comments:
'We are delighted to welcome Jim to the company. He brings with him tremendous
operational, marketing and branding internet experience gained in the US and is
an exciting new addition to the ebookers board. I would also like to thank
Jeffrey Sampler for his committed service during four years of major growth and
development for ebookers.'
For further information:
Cubitt Consulting (UK)
Michael Henman (0) 20 7367 5100
Financial Relations Board (US)
+ 1 212 445 8017
+44 (0) 20 7489 2239
+44 (0) 7771 934 153
Notes to Editors
1. Jim Treacy - Biography
James Treacy joined TMP Worldwide in 1994 as chief executive officer of the
company's Recruitment Advertising Division. He led the division from its
infancy to its position now as one of the world's largest recruitment
advertising enterprises. Additionally, Mr. Treacy played an integral role in
the acquisition of Monster in 1995 and the creation of the corporate
cross-selling strategy known as 'feeding the Monster.' He also contributed
greatly to establishing Monster as the leading global Internet career portal
and further validating the online recruitment industry as a credible, vital and
growing segment of the economy.
In 1998, Monster appointed Mr. Treacy as executive vice president and COO and
to the Board of Directors. He became company president and COO in November 2001
until December 2002. In this position, Mr. Treacy was responsible for the
day-to-day direction and management of all Monster business, corporate strategy
and development, company financing and investor relations. During his tenure,
Mr. Treacy led Monster through its initial public offering, two secondary
offerings and onto the S&P 500, the Nasdaq 100 and the Fortune e-50. Prior to
Monster Mr Treacy was a Senior Vice President with WPP, USA and before was with
the Ogilvy Group where he became their youngest public company officer ever at
the age of 27. Currently Mr Treacy works in a private business and investor
2. New Board
Following these changes, the board will consist of:
Dinesh Dhamija, Chairman and Chief Executive. Appointed 1999.
Michael Healy, Chief Financial Officer. Appointed June 2004.
Peter Liney, Group Commercial Director. Appointed March 2003.
Sudhir Choudhrie, Non-Executive. Appointed 1999
Tani Dhamija, Non-Executive. Appointed Executive Director 2001, Non-Executive
John Donaldson, Non-Executive. Appointed 2002.
David Gill, Non-Executive, Appointed 2003.
Jim Treacy, Non Executive. Appointed 2004.
3. ebookers plc at a glance
- Leading pan-European online travel company.
- Specialising in high margin, high value, long and mid haul travel.
- Umbrella brand ebookers.com, www.ebookers.com.
- Other websites include www.travelbag.co.uk, www.bridgetheworld.com and
- Full service including hotels, cars, flights, hotels, cruise, holidays,
- Websites in 13 countries and 9 languages: France, UK, Ireland, Germany,
Netherlands, Sweden, Denmark, Finland, Norway, Belgium, Austria, Spain,
- 900 European staff.
- Head office in UK, offices in 9 other European countries
- 700 seat low cost India Business Process Outsourcing facility, New Delhi
- High growth - 5 year CAGR of 147%
- Total transaction value of goods sold:
2003-£521m; 2002-£274m; 2001-£180m; 2000-£102m; 1999-£15m.
- Moved into profitability in 2003*
- 2003 annual adjusted profit* of £1.3m (vs 2002 - loss of £5.2m)
- London Stock Exchange, UK (EBR) and Nasdaq, USA (EBKR).
*Adjusted pre-tax profit is defined as profit on ordinary activities before
taxation after adding back exceptional items, amortisation of goodwill, stock
compensation expenses/ credits and National Insurance relating to share options
payable if employees exercise their share options
4. Forward Looking Statements
Except for the historical information contained herein, the matters discussed
in this news release are forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially from those
in such forward looking statements. Potential risks and uncertainties include,
without limitation, increased competition from airlines, our ability to
identify, acquire and integrate companies across Europe, our ability to
significantly increase our online revenues and sales volumes, including those
of acquired non-internet companies including Travelbag Holdings Limited, to
maintain and develop relationships with travel suppliers and strategic partners
and to attract and retain customers, potential adverse changes in our gross
mark up or in commission rates, unforeseen events affecting the travel industry
such as international conflicts, terrorist activity or public health crises, a
failure of our computer and communications systems, significant risks
associated with transferring European business functions to our Indian Business
Process Outsourcing facility and with servicing third party clients there, a
decline in the supply of merchant airfares available to us, and adverse
developments in U.K. or other European governmental regulation or electronic
commerce. The foregoing list of important factors is not exhaustive. When
relying on forward-looking statements, readers should carefully consider the
foregoing factors and other uncertainties and events, as well as factors
described in documents we file from time to time with regulatory authorities in
the United Kingdom and the United States, including annual reports on Form 20-F
filed with the US Securities and Exchange Commission. Any forward-looking
statements speak only as of the date on which they are made and except as
required by the rules of the UK Listing Authority, the London Stock Exchange
and applicable law, we undertake no obligation to update publicly or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
Further to the disclosures made in this announcement, no further disclosures
are required to be made pursuant to paragraph 16.4 of the Listing Rules.