Dignity PLC Strategic Update and Directorate Changes (4691I)
14 December 2020 - 6:00PM
UK Regulatory
TIDMDTY
RNS Number : 4691I
Dignity PLC
14 December 2020
Dignity plc
Strategic Update and Directorate Changes
Dignity plc (Dignity, the Company, or the Group), the UK's only
listed provider of funeral related services, announces the
following strategic update and board changes.
Strategic Update
As highlighted in the third quarter trading update announced on
9 November, whilst 2020 has proved to be a unique and challenging
year, the Board has not lost sight of the need to drive the ongoing
root & branch review through to an economic conclusion.
Accordingly, given that our over-arching desire to grow
sustainable long-term market share could have ramifications for
short-term performance, we are working closely with our largest
shareholder in order to endorse the combination of compelling
propositions and price points to best leverage the strengths of our
existing resources.
A further update will be provided at the Group's preliminary
results in March 2021.
Board Changes
-- Steve Whittern, Finance Director, has resigned from the board
with immediate effect and will leave the Company on 31 December
2020 to pursue other interests;
-- Richard Portman, Corporate Services Director has separately
notified the Company of his intention to leave
on 31 December 2020 and he has stepped down from the Board with immediate effect.
In light of the above developments, the board of Dignity has
taken the opportunity to consider the most appropriate structure
for the board going forward and has determined as follows:
-- Dean Moore, who was appointed to the Board as a Non-Executive
Director in March this year, will become Interim Chief Financial
Officer upon Steve Whittern's departure. Dean is a chartered
accountant with extensive public company experience having
previously been Chief Financial Officer at Cineworld Group plc, N
Brown Group plc, T&S Stores plc and Graham Group plc;
The Company is also embarking upon a process to identify a
suitable candidate for the longer-term finance director
position.
-- Andrew Judd, currently director of the group's funeral
operations and a member of the Operating Board, has agreed to join
the board as an additional executive director with immediate
effect. Andrew's day-to-day responsibilities will remain
unchanged.
-- The board has also determined to create an operating board
role of chief operating officer. The intention is to identify a
suitable candidate for this role as soon as practicable. In the
interim, Richard Portman's current functions will be transitioned
to report to Clive Whiley, who remains Executive Chairman.
The Company will also continue its search for an appropriate
candidate for the role of chief executive officer, coterminous with
the outcome of the strategic review.
Finally, the Company will now commence a search for an
additional Non-Executive Director, in order to maintain an
appropriate balance of independent Non-Executive Directors and
suitable representation for the Board committees until Dean Moore
completes his Interim CFO role.
Commenting on the changes, Clive Whiley, Executive Chairman
said:
"We would like to thank both Steve Whittern and Richard Portman
for their contribution to the Company over the last twenty years
and wish them well in their future endeavours. We also welcome
Andrew Judd's appointment in order to provide funeral operations
experience to the main board. Finally, I look forward to working
with Dean on completing the transformation strategy and
safeguarding the future success of the business."
There are no details required to be disclosed under Listing Rule
9.6.13R.
For further information please contact:
Clive Whiley, Executive Chairman
Dignity plc +44 (0)20 7466 5000
Richard Oldworth
Chris Lane
Tilly Abraham
Buchanan +44 (0)20 7466 5000
www.buchanan.uk.com dignity@buchanan.uk.com
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDUOUARROUUAUA
(END) Dow Jones Newswires
December 14, 2020 02:00 ET (07:00 GMT)
Dignity (LSE:DTY)
Historical Stock Chart
From Apr 2024 to May 2024
Dignity (LSE:DTY)
Historical Stock Chart
From May 2023 to May 2024