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JPM Announces Change of Ownership
Over the past twelve months there has been a great deal of speculation regarding the ownership of JPM International Ltd. The company is now very pleased to announce a Management Buyout has been successfully completed, taking JPM back into private ownership from Sega of Japan, whilst still retaining some business alliances with them. The two new owners are Tony Jones, previously COO and Group Finance Director and Brian Mitchell (Group Operations Director). The change of ownership also means that Heath Samples, previously the Group Sales & Marketing Director, has left the company. Tony Jones led the MBO, with the co-operation of Sega Directors and with input from PricewaterhouseCoopers; Barclays Bank; Eversheds and Harbottle & Lewis (legal) and RCA corporate financial advice. Company strategy for the future will focus on the core strengths of AWP and SWP game content in chosen markets, whilst simultaneously further developing interests in on-line and new media and pursuing new and additional market opportunities.
The structure of a new senior management team has been finalised and will consist of the two Directors plus four other senior managers. They will oversee all aspects of the company, including Strategy, Business Development, Sales & Marketing and Operations. The Directors currently have a talented team to support them, with the capability to deliver excellent results, however we recognise that in some instances the need to invest in additional staff thus enabling us to operate at improved efficiencies, and to supplement those areas where we are under-resourced. Historically, JPM has operated at its best when under private ownership and with the application of sound business principles, we are confident that we will improve our current position, via organic growth and prudent cost controls, to achieve enhanced profitability. We also recognise the need for an open-minded approach in decision-making and in developing strategy and therefore will be ready, where necessary, to sacrifice a few ‘industry sacred cows'. The Directors look forward to maintaining their close links and relationships with current customers, distributors and suppliers but expect to develop new relationships where both practical and mutually beneficial.
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