1 September 2011 – board appointment

Stephen Phipson CBE has been appointed as Chief Executive Officer with immediate effect.  He joins Stadium from Smiths Group plc.  Since 2004 he held the role of President of Smiths Detection, the world’s largest provider of chemical, biological, and explosives detection systems supplying major airports, ports, military and government agencies worldwide.  This is a positive move and it is clearly helpful to have attracted someone of Phipson’s calibre to the helm.  We rate the shares as a BUY.