ITE Group PLC announced on Friday that it has changed its name to Hyve Group PLC, reflecting the changing of its business following its Transformation & Growth Programme, which started in May 2017 and is nearing completion. The company expects to trade under its new name with effect from September 24, 2019.
The vision is to create the world’s leading portfolio of content-driven, must-attend events delivering an outstanding experience and ROI for customers, a release announcing the name change, 20 September read. “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,” the Group statement said.
The company in good marketing speak describes Hyve Group plc as “a next generation global events business whose purpose is to create unmissable events, where customers from all corners of the globe share extraordinary moments and shape industry innovation”.
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
Unveiling Hyve Group plc today, Mark Shashoua, CEO, said:
“Today, we launch our new brand identity, Hyve, to move us into the future, with a clear vision, well defined strategy and a renewed energy. We have transformed the Group into a next generation global events business, and our new name is a better reflection of who we are now and captures our ambitions for our future. Since taking the helm in 2016, the Group has 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. 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. As Hyve, we are on a mission to deliver unmissable events. We believe our model gives us a distinctive competitive edge as customer needs evolve and we aspire to set the standard for our industry.”
Knowing Mark Shashoua
Mark was appointed as Chief Executive Officer in September 2016. Mark was previously the CEO of i2i Events Group, the event arm of Ascential Plc, where he spent five years leading the internationalisation and diversification of the business. Mark is a prominent figure in the international events industry and was one of the founding members of the company, then called ITE Group, in 1991, where he was a senior Director and Board member for eight years. Mark’s focus is on evolving the business and working towards achieving its ambition. He spends considerable time alongside regional leaders and event teams, discussing the strategy of each market-leading show, and planning for sustainable growth.