On the Beach Group PLC Non-Executive Director Appointment (2564R)
05 March 2021 - 6:00PM
UK Regulatory
TIDMOTB
RNS Number : 2564R
On the Beach Group PLC
05 March 2021
5 March 2021
On the Beach Group plc
("On the Beach" or the "Group")
Directorate Change - Non-Executive Director Appointment
On the Beach Group plc (LSE: OTB.L), the UK's leading online
retailer for beach holidays, is pleased to announce the appointment
of The Rt Hon Justine Greening to the Board as a Non-Executive
Director with immediate effect.*
Most recently, after leaving Government in 2018, Justine founded
the Social Mobility Pledge campaign in that year to drive grass
roots change through business and higher education. Three years on,
over 550 companies and 75 universities have committed to
strategically drive social mobility through their respective
organisations' engagement with local communities.
Justine was Member of Parliament for Putney, Roehampton &
Southfields from 2005 to 2019 and spent eight years as a Minister,
including six in Cabinet. Justine's political career included the
following appointments:
-- Secretary of State for Education (2016-2018);
-- Minister for Women & Equalities (2016-2018);
-- Secretary of State for International Development (2012-2016);
-- Secretary of State for Transport (2011-2012); and
-- Economic Secretary to Treasury (2010-2011).
Prior to Justine's political career, she trained and qualified
as a Chartered Accountant with PriceWaterhouse in the UK and
Switzerland before taking a finance role at SmithKline Beecham
followed by a strategy role at the newly formed GlaxoSmithKline.
During her time at GSK, Justine completed an MBA at the London
Business School in 2000 and then joined AA/Centrica as Head of
Sales and Marketing Finance for three years before leaving to
successfully become a Member of Parliament in 2005.
Richard Pennycook, Chair of On the Beach, commented:
"We are delighted that Justine has agreed to join the Board of
On the Beach as a Non-Executive Director. Justine has had both a
successful business career and an illustrious political career. Her
important work upon leaving Government to establish the Social
Mobility Pledge has been instrumental in changing the way
businesses and universities think about social mobility. It is a
privilege that Justine has chosen On the Beach as her first
corporate Non-Executive Director role and we look forward to
working with her and benefiting from her extensive knowledge and
expertise. As the travel sector recovers from the pandemic, we
expect some fairly major reforms to the regulatory landscape.
Justine's experience, in and out of Westminster, will be invaluable
as On the Beach navigates these reforms and pursues opportunities
to grow our market share both in the UK and internationally."
Rt Hon Justine Greening said:
"I am excited to be joining the Board of On the Beach at a time
when the UK's vaccine rollout continues apace, and consumers can
look forward to the prospect of going on holiday again. Simon and
his team have built a great business which puts the consumer at the
forefront of everything that they do and I look forward to working
with him, Richard and the wider Board as On the Beach continues on
its mission to be Europe's leading online retailer of beach
holidays."
* Justine will serve as a member of the Audit, Remuneration and
Nomination Committees. As stated on page 66 of the Company's 2020
Annual Report, following this announcement the Audit Committee will
be quorate and Richard Pennycook will therefore step down as a
member of the Audit Committee with immediate effect. Justine's
appointment satisfies the requirements of provision 24 of the UK
Corporate Governance Code.
Save as disclosed herein, there are no further details required
to be disclosed pursuant to Listing Rule 9.6.13 in connection with
Justine's appointment.
For further information:
On the Beach Group plc via FTI Consulting
Simon Cooper, Chief Executive
Officer
Shaun Morton, Chief Financial
Officer
FTI Consulting Tel: +44 (0)20 3727 1000
Alex Beagley
Fiona Walker
Sam Macpherson
Holly Ayres
About On the Beach
With over 20% share of online sales in the short haul beach
holiday market, we are one of the UK's largest online beach holiday
retailers. We have significant opportunities for growth and a
long-term mission to become Europe's leading online retailer of
beach holidays. By using our innovative technology, low-cost base
and strong customer-value proposition to provide a structural
challenge to legacy tour operators, we continue our journey to
disrupt the online retail of beach holidays. Our model is
customer-centric, asset light, profitable and cash generative.
www.onthebeachgroupplc.com
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