AIB Group PLC Directorate Changes (2388L)
05 September 2019 - 12:00AM
UK Regulatory
TIDMAIBG
RNS Number : 2388L
AIB Group PLC
04 September 2019
4 September 2019
AIB GROUP PLC
DIRECTORATE CHANGES
AIB Group plc (the "Company") announces the following
appointments to, and upcoming planned resignations from, the
Board:
-- Ms Elaine MacLean has been appointed to the role of Non-Executive Director and Remuneration Committee Chair with
effect from 4 September 2019, succeeding Mr Jim O'Hara as Remuneration Committee Chair. Ms MacLean will also join
the Nomination and Corporate Governance Committee as at that date;
-- Mr Basil Geoghegan has been appointed to the role of Non-Executive Director with effect from 4 September 2019. Mr
Geoghegan will also join the Board Audit and Board Risk Committees as at that date;
-- Mr Brendan McDonagh, an existing Non-Executive Director and Board Risk Committee member, has been appointed to
the role of Board Risk Committee Chair, succeeding Mr Peter Hagan in that role with effect from 4 September 2019;
-- Mr Peter Hagan will resign as a Non-Executive Director with effect from 30 September 2019 following over seven
years on the Board;
-- Mr Jim O'Hara will resign as Non-Executive Director with effect from 12 October 2019 being the conclusion of his
nine year term on the Board; and
-- Ms Catherine Woods will resign as Non-Executive Director, Deputy Chair and Senior Independent Director with
effect from 12 October 2019 being the conclusion of her nine year term on the Board. Mr Tom Foley has been chosen
to succeed Ms Woods as Senior Independent Director from 12 October 2019. Mr Foley will join the Nomination and
Corporate Governance Committee as of that date also. A successor to the role of Deputy Chair will be appointed in
due course.
Mr O'Hara and Ms Woods shall continue to act as Non-Executive
Directors for a number of the Company's Irish subsidiaries for a
short period of time.
In respect of the changes, Richard Pym, Chairman of the Company,
said: "As I previously noted, due to planned retirements of some of
our long serving Non-Executive Directors, we have been working for
some time on our Board succession plan. We are delighted that this
work has come to fruition as we welcome Elaine and Basil to AIB.
Their diverse and extensive knowledge will serve to further enhance
the Boards experience and skills profile. It is also testament to
the strength of our current Board members that we are in a position
to select Brendan as our next Board Risk Committee Chair.
Whilst, of course, it is a happy occasion to welcome new Board
members, in this case it is coupled with regret at the departure of
Peter, Catherine and Jim, who between them share 25 years as Board
members of AIB Group. Joining in a period of great difficulty, they
have guided the Group through a significant level of positive
change during their tenures. The wealth of experience and knowledge
of AIB Group shared by these individuals is un-paralleled and will
be a loss to the Board. On behalf of my fellow Board members, I
would like to thank them all sincerely for their meaningful
contribution to the Board, Board Committees and to AIB Group as a
whole."
Basil is a partner in the Strategic Advisory Group at PJT
Partners, based in London. Prior to joining PJT Partners, Basil was
a Managing Director at Goldman Sachs, Deutsche Bank and Citigroup
in London and New York. He has broad M&A, corporate finance and
strategic advisory experience, in the US, UK, Ireland and
internationally. He qualified as a solicitor with Slaughter and
May. Basil is Chairman of DAA plc and Patron of The Ireland Fund of
Great Britain. He is a Scholar of, and holds an LLB, from Trinity
College, Dublin and an LLM from European University Institute.
Elaine is a highly experienced human resources director whose
career began in retail, working in human resources roles at Harrods
and Windsmoor before joining the Arcadia Group as Retail Operations
Director and HR Director. Since then, Elaine has enjoyed a very
successful senior HR leadership career culminating in her
appointment as Group Human Resources Director for Legal and General
plc in 2006 where she was key in their success in driving
improvements in the culture of the business. Elaine holds an MA in
English Literature and Psychology from the University of
Glasgow.
The announcement is made in accordance with Rule 6.1.64 of
Euronext Dublin's Listing Rules and Rule 9.6.11 of the London Stock
Exchange's Listing Rules.
The Company confirms that there are no matters requiring
disclosure under Rule 6.1.66 of Euronext Dublin's Listing
Rules/Rule 9.6.13 of the London Stock Exchange's Listing Rules
relating to the newly appointed directors, Ms MacLean and Mr
Geoghegan.
-ENDS-
For further information, please contact:
Aeilish McGovern Niamh Hore Paddy McDonnell
Interim Head of Corporate Head of Investor Relations Head of Media Relations
Governance
AIB Molesworth Street AIB Molesworth Street AIB Molesworth Street
Dublin 2 Dublin 2 Dublin 2
Tel: +353-1-6410910 Tel: +353-1-6411817 Tel: +353-1-641 2869
email: email: email:
aeilish.m.mcgovern@aib.ie niamh.a.hore@aib.ie paddy.x.mcdonnell@aib.ie
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END
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