TEG restructures management team for ‘long-term global expansion’
TEG reshapes its executive team as the live entertainment and tech specialist considers its next phase of expansion in a post-COVID world.
As part of the new changes, announced Wednesday (2nd September), Cameron Hoy is promoted to the new combined post of Chief Commercial Officer and Managing Director of Ticketing.
Hoy, TEG’s experienced Chief Operating Officer and Head of Ticketing, takes on duties for TEG Analytics, TEG Insights, TEG Digital and Commercial in addition to TEG’s ticketing operations around the globe.
Also, veteran international executive and strategy consultant Ian Ball joins the TEG group as Chief Operating Officer.
Previously CEO and Managing Director of ASX-listed global professional services company Cardno, Ball will oversee TEG’s operations, technology, IT, Communications and Corporate Affairs functions and its venues globally.
Ball is a former operating partner at Silver Lake, the U.S.-based private equity group that bought TEG in 2019 for a billion-dollar-plus pricetag.
“This is an evolutionary, fit-for-purpose restructure which is all about making sure we are streamlined for global growth in the longer term, as we battle the challenges posed by COVID-19,” comments TEG Chief Executive Geoff Jones.
“It aligns our businesses in the right way and brings in additional senior talent as we continue to evolve our integrated model.”
TEG’s empire spans ticketing, live entertainment and technology, with interests including Ticketek, TEG Live, Qudos Bank Arena, Eventopia, TEG Dainty, and the recently-acquired Van Egmond Group, the Melbourne-based concert promotion company which has produced some of the biggest tours ever to visit these parts.
Live entertainment powers TEG’s business model.
Prior to the pandemic, its Ticketek company in Australia delivered 30 million tickets annually for over 30,000 events, from concerts to theatre, musicals, festivals and more.
In the right conditions, Ticketek would take the leap into several major live music territories.
“We have a really good model which we’ve developed in Australia and New Zealand, what we call the TEG-integrated model. We’re evolving that really well in Asia,” Jones told TIO in October 2019 during a conference call with trade journalists.
“The logical next step for us is to take that model into the U.K. and Europe as our next field we want to play in and continue to grow what we do.”
Earlier, TEG expanded its empire in the U.K. with the acquisition of The MJR Group, a live company that promotes and operates more than 2,000 shows annually — prior to the health crisis — and owns a four-strong portfolio of venues.
The management restructure, including the new appointments for Hoy and Ball, should position TEG for the “long-term global expansion of its integrated business model,” reads a statement.
This article originally appeared on The Industry Observer, which is now part of The Music Network.