Chesnara PLC Directorate Change (9578C)
14 February 2020 - 6:00PM
UK Regulatory
TIDMCSN
RNS Number : 9578C
Chesnara PLC
14 February 2020
CHESNARA PLC
("Chesnara", the "Company" or "Group")
14 February 2020
LEI Number: 213800VFRMBRTSZ3SJ06
CHESNARA APPOINTS NEW CHAIRMAN
Chesnara today announces the retirement of Peter Mason as
Chairman of Chesnara plc and the appointment of Luke Savage as
Non-Executive Director and Chairman, with immediate effect.
Mr Savage will also serve as Chairman of the Company's
Nominations and Governance Committee, and as a member on its
Remuneration Committee.
A highly experienced Plc director, largely in the financial risk
and insurance sectors, he previously served as a director and Chief
Financial Officer of Standard Life Aberdeen plc from 2014-2017 and
for ten years prior to that as Director of Finance and Operations
at Lloyd's of London. His career has also included senior roles
with leading financial institutions such as Deutsche Bank, Morgan
Stanley, Lloyds Bank and Price Waterhouse (now PwC). He is a
qualified Chartered Accountant (ACA from ICAEW). Mr Savage is
currently a Non-Executive Director of Numis Corporation plc, DWF
Group plc and Liverpool Victoria Financial Services Limited.
Jane Dale, Senior Independent Director, commented:
"I am delighted that we have been able to recruit Luke as our
next Chairman upon the retirement of Peter. His credentials in the
insurance and risk markets are superlative and he will bring this
level of expertise to bear on both Chesnara plc and the wider
group.
"Under Peter's time at the group, Chesnara has expanded into
Sweden and the Netherlands and delivered 14 years of unbroken
dividend growth. We are very grateful to Peter for all his hard
work since being appointed to the Board in March 2004 and as
Chairman in January 2009. We wish him a long and happy
retirement."
Luke Savage, incoming Chairman, added:
"Chesnara is a very well placed and successful group operating
in the life and pensions markets in its established segments of the
UK, Netherlands and Sweden. I am excited to be taking on the role
of Chairman at this stage of the Company's development and look
forward to working with the Board and our strong management team
lead by Group Chief Executive John Deane, to continue the delivery
of value to our customers, shareholders and wider
stakeholders."
-ENDS-
For media and investor enquiries, please contact:
Roddy Watt
Director, Capital Markets
FWD
Forward thinking communications
T - 020 7280 0651 / 07714 770493
E - roddy.watt@fwdconsulting.co.uk
Notes to Editors
No further information is required to be disclosed by
LR9.6.13R.
Chesnara is a life and pensions company listed on the London
Stock Exchange. It administers over one million policies with
approximately GBP7.7 billion of assets under management, with those
assets spread broadly equally across businesses in the UK, the
Netherlands and Sweden. Chesnara operates as Countrywide Assured in
the UK, as The Waard Group and Scildon in the Netherlands, and as
Movestic in Sweden.
Following a three pillar strategy, Chesnara's primary
responsibility is the efficient administration of its customers'
life and savings policies, ensuring good customer outcomes and
providing a secure and compliant environment to protect
policyholder interests. It also adds value by writing profitable
new business in Sweden and the Netherlands and by undertaking
value-adding acquisitions of either companies or portfolios.
Consistent delivery of the Company strategy has enabled Chesnara
to increase its dividend for 14 years in succession.
Further details are available on the Company's website
(www.chesnara.co.uk).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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