Georgia Capital PLC (the "Company" or "Georgia Capital") announces today that its Board of Directors has agreed with Irakli Gilauri, Chairman and CEO, to extend the terms of his current CEO employment contract, which is due to expire in May 2023, to 31 December 2025.
David Morrison, Senior Independent Director, commented: “Irakli has led Georgia Capital since its demerger from BGEO Group PLC in 2018 and during this time he has developed the Company into a unique institutional investment business in Georgia, with an excellent track record in accessing and developing high-quality management talent; accessing international capital markets, maintaining high standards of governance; finding attractive new investment opportunities; and successfully monetising a mature portfolio company – our water utility business. We are pleased to see that Georgia Capital will continue to benefit from Irakli’s experience, knowledge of the local business environment, his enthusiasm and commitment. We are confident that Irakli will successfully execute on our strategic plans and deliver enhanced value for all of our stakeholders.”
Irakli Gilauri, Chairman and CEO of Georgia Capital, commented: “I look forward to continuing our efforts to deliver on our strategy, and demonstrating strong progress towards our key strategic priority of deleveraging the Company’s and portfolio companies’ balance sheets, while consistently growing NAV per share. I am proud of the progress we have made in bringing Georgia Capital to this point, and I am equally excited about the opportunity to help lead the Company into the next phase of our ongoing journey. We are extremely well-positioned to deliver consistent NAV per share growth over the medium to long term.”