Directorate Change

RNS Number : 4699X

Just Group PLC

30 April 2019

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014
NEWS RELEASE	www.justgroupplc.co.uk

30 April 2019

JUST GROUP plc

DIRECTORATE CHANGE

Just Group plc ("Just" or the "Group") today announces that after 9 years with the Group, Rodney Cook has decided to step down from his role as Group Chief Executive Officer and from the Board with immediate effect in order to plan his retirement. He has agreed to continue in the Group's employment until June 30^th to ensure there is a smooth transition process.

The Group will now commence a formal search for a successor, which will consider both internal and external candidates. Until such time as a successor is appointed, David Richardson, currently Group Deputy Chief Executive Officer and Interim Group Chief Financial Officer, will assume the role of Interim Group Chief Executive Officer*. David Richardson has significant experience and a deep understanding of the Group and its markets, having been Chief Financial Officer of Partnership Assurance Group plc ("Partnership") for three years and then, following the merger of Just Retirement Group plc ("Just Retirement") and Partnership, being appointed Group Deputy Chief Executive Officer in April 2016. 

The Board's search for a permanent Group Chief Financial Officer is in process. Until a successor is named, David Richardson will retain his responsibilities as Interim Group Chief Financial Officer.

Chris Gibson-Smith, Chairman of Just Group plc said:

"I would like to thank Rodney personally and on behalf of the Board for his leadership of the Group over the last 9 years. He has led the Group through a period of significant change, including the Pension Freedom Budget, the merger and subsequent integration of Just Retirement and Partnership, and most recently during the regulatory consultation process. Rodney's leadership has transformed the Group and I wish him the very best for the future.

I would also like to express the Board's gratitude to David for stepping into the role of Interim Group CEO. Given David's extensive experience with the Group, the Board is confident that with the support of the executive management team he can manage both roles during the transitional period."

Rodney Cook said:

"It has been an honour to lead this Group over the last 9 years and I am exceptionally proud of providing our many customers with security and peace of mind in later life. Having delivered the Group's response to the prudential regulatory changes, I feel it's now the right time for me to retire from the role as CEO. Although this last year has been a challenging one, the work we have done to strengthen the balance sheet and expand margins will lead to a bright future. I have had the pleasure of working with an exceptionally talented team and have no doubt that I am leaving the Group in safe hands."

Enquiries Investors / Analysts James Pearce, Director of Group Finance Telephone: [phone] [e-mail] Alistair Smith, Investor Relations Manager Telephone: [phone] [e-mail]

Media Stephen Lowe, Group Communications Director Telephone: [phone] [e-mail] Temple Bar Advisory Alex Child-Villiers William Barker Telephone: [phone]

Notes to Editors

Rodney Cook

Rodney Cook was Chief Executive Officer of Just Retirement Group plc and its predecessors from July 2010. Upon completion of the merger with Partnership in April 2016 he was appointed CEO of Just Group plc. He previously held senior leadership positions at AMP, Zurich and Prudential plc, and is a qualified actuary.

David Richardson

David was Chief Financial Officer of Partnership from February 2013 until April 2016. Following the merger he was appointed as Group Deputy Chief Executive Officer and Managing Director of the UK Corporate Business of Just Group plc. He was also appointed interim Group Chief Financial Officer of Just Group plc in October 2018. Previously, David was Group Chief Actuary of Phoenix Group, having worked in a number of senior roles at Swiss Re from 2002 to 2010. He commenced his career at Tillinghast, is a Fellow of the Institute and Faculty of Actuaries and is a CFA charter holder.

Remuneration Information

As required by section 430(2B) of the Companies Act 2006, details of the remuneration payments to be made to Rodney Cook are published on the Group website in the shareholder information area.

*Subject to regulatory approval

FINANCIAL CALENDAR	DATE
Q1 trading statement Annual General Meeting	16 May 2019 13 June 2019

A copy of this announcement will be available on the Group's website www.justgroupplc.co.uk

JUST GROUP PLC

GROUP COMMUNICATIONS

Vale House, Roebuck Close

Bancroft Road, Reigate

Surrey RH2 7RU

 

END

 

 

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