SYDNEY, Australia - Brendon Bainbridge is leaving TEG after 17 years, the past six of those leading the live entertainment, ticketing, digital and data giant's activities in Asia.
Bainbridge has been "an asset to TEG from day one and I want to personally thank him for his friendship, commitment, loyalty and immense efforts in successfully launching TEG in Asia," comments TEG CEO Geoff Jones in a statement announcing the move.
During his six-year stint as managing director, Asia, "Brendon has grown the business in the region, leading through the pandemic, the entertainment and ticketing industry's most challenging period in recent times, positioning TEG Asia to now capitalize on a wealth of opportunity in the region," adds Jones.
Before making the move to Singapore, Bainbridge served for 11 years as managing director of Ticketek New Zealand.
Bainbridge is leaving to go live in Colorado, according to the company, and TEG is working on opportunities for him to continue working with the company after his relocation.
His successor at TEG is Timothy Ho, who is named as managing director, Asia, and has worked closely with Bainbridge for the last year, creating what should be "seamless transition for our business in the region," enthuses Jones.
The incoming chief has 15 years' experience in live entertainment and ticketing prior to joining to TEG, and was a "clear choice to step into the role," says Sydney-based Jones.
The region, notes Ho, "is at the forefront of every major discussion now for live entertainment and ticketing - it's a great time to be stepping into this leadership role and fulfilling TEG's long-term vision and commitment to Asia."
Currently, the TEG empire includes TEG Live, TEG Sport, TEG Experiences, TEG Dainty, SXSW Sydney, TEG MJR, TEG Van Egmond, Laneway Festival, FAN+, Handsome Tours, Qudos Bank Arena and ticketing giant Ticketek, a multiple winner at the 2022 Ticketing Business Forum international awards in Manchester, England.
In other news, TEG's owners are reportedly preparing for an auction process.
In one article published last month in the Australian Financial Review, TEG is said to be pitched to big global buyout funds as "a unique business worldwide," one that has expanded its footprint in recent years.
Another tale which ran in The Australian, suggested a sale process for the group could kick off this April, with investment bank Jefferies tapped to facilitate.
TEG was acquired in 2019 by Silver Lake, the U.S.-based private equity company which specializes in technology investing. Financial terms weren't revealed, but sources say TEG carried a price tag of $1 billion-plus.
A spokesman did not respond to requests for comment.