Directorate Change

RNS Number : 4673V

Man Group plc

29 May 2008

 



CHANGE TO THE BOARD

Man Group plc today announces that Stanley Fink, Deputy Chairman, wishes to retire from the Man Group plc board and so will not be seeking re-election as a Director at this year's Annual General Meeting, to be held on 10 July 2008, when he is due to retire by rotation. 

Stanley joined Man in 1987 and was Chief Executive for seven years from 2000 prior to which he ran the investment management business and was Finance Director before that. He assumed the role of non-executive Deputy Chairman in April 2007 on standing down as Chief Executive.  

Jon Aisbitt, Chairman of Man Group, said: 

'Stanley's vision, business development skills and pioneering passion for the opportunities in the alternative asset segment of the investment management industry have been at the heart of Man's growth and success. Under his leadership, Man was built through a dynamic combination of organic growth and selective acquisition. He created tremendous value for shareholders and the Board wishes to express its sincere gratitude for his unique contribution to the success of the Group and to wish him all the very best for the future.'

Stanley Fink, Deputy Chairman said:

'I have spent more than 21 years at Man Group, and have been on the Board for all but the first six months of that time, during which the company has undergone immense change which has seen it emerge as a leading player in the alternative asset management industry.  I retained a non-executive role after stepping down as CEO last year but I have many commercial and philanthropic interests outside Man Group to which I am increasingly committed and I am eager to pursue these, and other new opportunities, more fully.  I am sure that the Group will continue to prosper under the leadership of the Board and the executive team. '

ENQUIRIES

David Browne

Head of External Relations

[phone]

[e-mail]

Merlin PR

Paul Downes

[phone]

Paul Farrow

[phone]

ABOUT MAN GROUP PLC

Man is a world-leading alternative investment management business. With a broad range of funds for institutional and private investors globally, it is known for its performance, innovative product design and investor service. Man manages over $78 billion and employs 1,600 people in 13 countries worldwide. 

The original business was founded in 1783. Today the parent company, Man Group plc, is listed on the London Stock Exchange. It is ranked in the top 40 companies of the FTSE 100 Index with a market capitalisation of about $20 billion.

Man supports many awards, charities and initiatives around the world, including sponsorship of the Man Booker literary prizes and the Man Group International Climate Change Award. Further information can be found at www.mangroupplc.com.

 

END

 

 

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