Brady appoints new CEO

Brady plc

(“Brady”, the “Company” or the “Group”)

Appointment of CEO


Directorate Changes

Brady plc, a leading global provider of trading, risk management and settlement solutions to the commodity and energy markets, is pleased to announce the following changes to its Board of Directors (the “Board”).

New Chief Executive

After an extensive selection process involving numerous high-quality candidates, the Company is pleased to confirm the appointment of Carmen Carey as its new Chief Executive, with effect from 18 February 2019. Carmen initially joined the Board as a Non-Executive Director in March 2017. Carmen is an IT industry veteran whose career to date encompasses leadership roles as an executive in fast-growing global VC-backed and publicly traded technology companies.

She was most recently the COO of artificial intelligence company Unbabel. Prior to Unbabel, Carmen was CEO of Apica, CEO of Big Data Partnership, COO of MetaPack, CEO of ControlCircle, COO of MessageLabs and VP of Global Services at BroadVision. As CEO, she successfully led the exit of Big Data Partnership and ControlCircle to Teradata and Alternative Networks, respectively.  She was also a Non-Executive Director for Arts Alliance Media through its acquisition by Luxin-Rio. In 2017, Carmen was recognised with the Bronze Stevie Award for Most Innovative Woman of the Year in Technology – one of the world’s top honours for female executives.

Non-Executive Chairman and Non-Executive Directors (“NEDs”)

As part of this process, Ian Jenks will step back from his role as Executive Chairman to being Non-Executive Chairman with effect from 1 April 2019.  Ian became Executive Chairman in September 2016, initially as a short-term measure, and we are indebted to him for his longer than anticipated tenure. He has steered Brady through a time of huge transition and we look forward to his on-going role as Non-Executive Chairman.

The Company is in the process of recruiting additional NEDs and looks forward to making further announcements to this regard soon.

Ian Jenks, Executive Chairman of Brady, commented: We are delighted to have secured such a high-quality Chief Executive as Carmen. It is a testament to Brady’s strength, position and products that Carmen wanted to make the transition from Non-Executive Director to Chief Executive.  As a business we have a fabulous opportunity in front of us. We have the staff, the clients and the drive to take the Company to the next stage and with Carmen leading the team we are in great shape to take advantage of that.”

Carmen Carey, commented: “ I am thrilled to become Brady’s CEO. The opportunities available to the Company are substantial and I am confident that my experience gained across a wide range of technology businesses will help Brady realise its full potential.”

For further information, please contact:

Brady plc
Ian Jenks, Executive Chairman
Martin Thorneycroft, Finance Director
Telephone: +44(0)1223 479479
Cenkos Securities plc – NOMAD and Broker
Mark Connelly – Corporate Finance  
Telephone: +44 (0)20 7397 8900
Newgate Communications
Bob Huxford/ Ian Silvera
Telephone: +44 (0)20 7653 9848  

Disclosures required by Schedule 2(g) of the AIM Rules for Companies

Further to the disclosures made on Ian Jenks’ appointment on 6 June 2016, the Company also confirms that Mr Jenks is a Director of Zeetta Networks Limited, Ian Jenks Limited and is a former director of Aldwych 2011 Limited, Skrill Limited and Paysafe Financial Services Limited.  The Company makes the following corrections to previously disclosed Directorships:

Previous Disclosure Correction
Seren Phonics Limited Seren Photonics Limited
Econic Limited Econic Technologies Ltd
Intune Network Limited Intune Networks Belfast Limited

There are no additional Schedule 2(g) disclosures required for Carmen Carey.

About Brady

Brady plc (BRY.L) is the largest European‐headquartered provider of trading and risk management software to the global commodity and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined, soft commodities and agriculturals.

Brady has 30 years’ expertise in the commodity markets and its clients include many of the world’s largest financial institutions, trading companies, miners, refiners and producers, tier one banks, a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.

Brady appoints new CEO