Ten Entertainment chairman to step down in September
Bowling alley operator Ten Entertainment said on Thursday that chairman Nick Basing has announced his intention to step down from the role after six years.
Ten said a process to appoint Basing's successor was already underway, with the group's chair set to depart in September, following an orderly handover period.
The AIM-listed group stated Basing had been "instrumental" in its development, going underlying earnings tenfold during his tenure and helping boost like-for-like sales for eight consecutive years between 2010 and 2020, prior to the onset of the Covid-19 pandemic.
Basing said: "I believe we are at the sweet-spot of experiential leisure which over the years the team has helped to pioneer. I am confident to be leaving the business in the excellent hands of our first-class leadership and a strong board."
As of 1005 GMT, Ten shares were down 1.57% at 231.30p.