Man Group appoints Lord Livingston as Chairman

RNS Number : 6368J

Man Group plc

18 December 2015

 

Man Group appoints Lord Livingston as Chairman

London, 18 December 2015 - Man Group plc is pleased to announce that following Financial Conduct Authority ("FCA") approval, Lord Livingston of Parkhead has been appointed as a non-executive director of Man Group, effective 1 January 2016. Lord Livingston will, subject to his reappointment as a director at the Company's 2016 Annual General Meeting ("AGM") in May 2016, succeed Jon Aisbitt as Chairman following the AGM.

Lord Livingston joins Man Group with almost two decades of board level FTSE 100 experience. He has been a serving member of the UK House of Lords since 2013 and was previously Minister of State for Trade and Investment for the UK Government from December 2013 to May 2015. Lord Livingston also has an outstanding track record in the corporate world, most recently as Group Chief Executive Officer of BT Group Plc ("BT") from 2008 to 2013.

Lord Livingston joined BT in 2002 as Group Chief Financial Officer, and went on to hold a number of other senior executive roles during his eleven years with the business. He was Chief Executive Officer of BT Retail, the consumer and business division, from 2005 to 2008. Prior to joining BT, he was CFO of Dixons Group plc, one of Europe's leading consumer electronics retailers and has also worked for 3i plc, Bank of America and Arthur Andersen.

Phillip Colebatch, Senior Independent Non-Executive Director of Man Group, said:

"The Man Group Board is absolutely delighted to welcome Ian to Man Group. He brings with him invaluable experience of navigating regulatory environments around the world and successfully growing a complex international business. He has an outstanding track record of innovative leadership during a time of profound change for BT that will be invaluable to the Man Group Board and executive team. We are confident we have found a fitting and experienced successor to Jon Aisbitt, who has done a tremendous job for the firm, supporting the management team as they have delivered their plan to diversify and reposition the business. As we welcome Lord Livingston to a firm well-placed for the future, we thank Jon for his exceptional service and dedication over the past 12 years."

Lord Livingston, incoming Chairman of Man Group, said:

"I am delighted to be joining the Board of Man Group. Man Group is an innovative global company with a great management team and high calibre board. I am really looking forward to working with Manny Roman and his team."

Emmanuel Roman, CEO of Man Group, said:

"I am very pleased that Ian will be joining the Board of Man Group, and would like to welcome him to the firm. Man Group will benefit enormously from his significant experience and insights as we execute our strategy and continue to diversify and grow the business."

Lord Livingston is currently Deputy Chairman of the Board of mobile and electricals FTSE 100 company Dixons Carphone plc, where he is also Chairman of the Remuneration Committee and a member of the Nominations Committee. He is also a non-executive director and Chairman of the Audit Committee of Celtic Plc, a UK listed professional football club and a non-executive director of Belmond Ltd, a US listed luxury hotel and leisure company.  He is a member of the Institute of Chartered Accountants in England and Wales.

There are no further disclosures to be made pursuant to Listing Rule 9.6.13R in respect of Lord Livingston's appointment.

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About Man Group

Man Group is one of the world's largest independent alternative investment managers, and a leader in liquid investment strategies. Across its four investment managers (Man AHL, Man FRM, Man GLG and Man Numeric), Man Group has diverse hedge funds strategies and long only products spanning equity, credit, managed futures, convertibles, emerging markets and multi-manager solutions. At 30 September 2015, Man Group's funds under management were $76.8 billion.

The original business was founded in 1783. Today, Man Group plc is listed on the London Stock Exchange under the ticker EMG.L and is a constituent of the FTSE 250 Index.

Man Group also supports many awards, charities and initiatives around the world, including sponsorship of the Man Booker literary prizes. Further information can be found at www.man.com.

Forward looking statements and other important information

This document contains forward-looking statements with respect to the financial condition, results and business of Man Group plc. By their nature, forward-looking statements involve risk and uncertainty and there may be subsequent variations to estimates. Man Group plc's actual future results may differ materially from the results expressed or implied in these forward-looking statements.

The content of the websites referred to in this announcement is not incorporated into and does not form part of this announcement. Nothing in this announcement should be construed as or is intended to be a solicitation for or an offer to provide investment advisory services.

 

 

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