Directorate Change

RNS Number : 7288R

Hargreaves Lansdown PLC

27 August 2010

 



Strengthening of the Board at Hargreaves Lansdown plc

The Board of Hargreaves Lansdown plc is pleased to announce the appointment of two new directors.

Chris Barling

Mr. Chris Barling was appointed as an independent non-executive Director as of 26th August 2010.

Mr. Barling became a non-executive Director of the Company in August 2010. Chris has over 30 years' IT industry experience and formerly held senior IT roles in Cable & Wireless and Reuters. He has a degree in Computer Science from Brunel University and is the co-founder of Actinic, the software company specialising in ecommerce solutions for SMEs. Actinic went public on the London Stock Exchange in May 2000. He is also co-author of a well respected book on online business. He is a client of Hargreaves Lansdown.

Mike Evans, Chairman of Hargreaves Lansdown plc, said, "We are delighted that Chris has joined us and believe that his IT experience will compliment the skills of the Board. We look forward to working with him".

Other than his directorship of Actinic PLC, there are no matters required by paragraphs LR 9.6.13R (1) to (6) of the listing rules to be disclosed in relation to Chris Barling.

Ian Gorham

Ian Gorham, Deputy Chief Executive Officer, who joined the Group in 2009 was appointed as an executive Director as of 26th August 2010. As previously announced, Ian will be appointed as Chief Executive Officer with effect from 2nd September 2010.  Peter Hargreaves, current Chief Executive Officer, will continue as an executive Director.

There are no matters required by paragraphs LR 9.6.13R (1) to (6) of the listing rules to be disclosed in relation to Ian Gorham.

Stephen Lansdown

On 26th August 2010, Stephen Lansdown resigned as Executive director and was appointed as a non- executive Director of the Company.  Having previously served as an executive Director, Stephen will not be considered as independent under the provisions of the UK Code of Corporate Governance.

Stephen said "Over the course of the year my role has been to focus on challenging the Board, to ensure it operates efficiently and profitably.  I feel this is a role more suited to a non-executive and have, therefore, stepped down from my executive directorships.  This will also allow me to concentrate on other interests."

In accordance with paragraph LR 9.6.13R of the Listing Rules, Hargreaves Lansdown confirms that in respect of LR 9.6.13R (1) Stephen Lansdown is currently a director of Hargreaves Lansdown EBT Trustees Ltd, Bristol City Football Club Ltd, Bristol City Holdings Ltd, BCFC Ltd, Ashton Gate Ltd Willoughby (481) Ltd, St James Parade (122) Ltd and Sustainable Technology Investments (Guernsey) Ltd. 

He has previously been director of Hargreaves Lansdown (Nominees) Ltd, Hargreaves Lansdown Asset Management Ltd, Hargreaves Lansdown Pension Trustees Ltd, Hargreaves Lansdown Stockbrokers Ltd, Hargreaves Lansdown Pensions Direct Ltd, Hargreaves Lansdown Investment Management Ltd, Hargreaves Lansdown Pensions Ltd, Library Information Services Ltd, Hargreaves Lansdown Fund Managers Ltd, Hargreaves Lansdown Trustee Company Ltd, Hargreaves Lansdown Insurance Brokers Ltd, South Gloucestershire Arenas Ltd, Ariya Capital Group Ltd and Tuli Safari Botswana Ltd.

There are no other matters required by paragraphs LR 9.6.13R (1) to (6) of the listing rules to be disclosed in relation to Stephen Lansdown.

Mike Evans, Chairman of Hargreaves Lansdown plc, said "These appointments show a total complement of eight directors, of whom three are executives, four are non-executives, although only three can be deemed as independent, and myself as non-executive Chairman. Whilst this is not in strict compliance with the UK Code of Governance, we believe it is a strong board to support our new Chief Executive, and importantly retains the ongoing input of the two founders who remain the largest shareholders in the Company."

Any queries should be addressed to Ben Yearsley or Peter Hargreaves, who can be contacted on 0117 988 9880. 

 

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