Record PLC Directorate Change (6022K)
23 September 2016 - 12:33AM
UK Regulatory
TIDMREC
RNS Number : 6022K
Record PLC
22 September 2016
22 September 2016
Record plc
Board Changes
Record plc ("Record"), the specialist currency manager, today
announces the resignation of non-executive directors Cees
Schrauwers and Andrew Sykes with immediate effect.
As previously disclosed in the Record plc Annual Report 2016,
from November this year Cees Schrauwers and Andrew Sykes will no
longer be deemed independent, having joined Record just prior to
its introduction to the Official List in December 2007.
Consequently the Board agreed that Mr Schrauwers and Mr Sykes would
stand down from the Board following the appointment of two new
independent non-executive directors and a period of transition and
handover.
Further to the appointments as independent non-executive
directors of Jane Tufnell in September 2015 and Rosemary Hilary in
June 2016, Cees Schrauwers and Andrew Sykes have both formally
tendered their resignations today, with immediate effect. Their
resignations were accepted by the Board.
Neil Record, Chairman of Record, commented: "Both Cees' and
Andrew's knowledge and experience have been fundamental to the
smooth transition of Record from a private company to a
premium-listed public company, helping to ensure the appropriate
client-centric and risk-focused culture is fully embedded across
the business. I would like to take this opportunity to thank them
both for their commitment to the firm, and their invaluable advice
and guidance over the past nine years."
Following the resignations of Cees Schrauwers and Andrew Sykes
the Board has agreed that with immediate effect the Audit and Risk
Committee will be chaired by Rosemary Hilary, the Nomination
Committee by Jane Tufnell, and the Remuneration Committee by David
Morrison, who will also be the Senior Independent Director.
Enquiries:
Record plc Tel: +44 (0)1753 852 222
Neil Record, Chairman
James Wood-Collins, Chief Executive Officer
MHP Tel: +44 (0) 20 3128 8100
Nick Denton record@mhpc.com
Ollie Hoare
Notes to Editors
Record plc
Record is a specialist currency manager and provider of currency
hedging services for institutional clients. Founded in 1983, Record
has established a market leading position as a currency manager.
Specifically, the Group has a leading position in managing Currency
Hedging and Currency for Return for institutional clients.
The Group has three principal product lines:
-- Dynamic Hedging, where Record seeks to eliminate the impact
of currency movements on elements of clients' investment portfolios
that are denominated in foreign currencies when these movements are
expected to result in an economic loss to the client, but not to do
so when they are expected to result in an economic gain;
-- Passive Hedging, where Record seeks to eliminate fully or
partially the economic impact of currency movements on elements of
clients' investment portfolios that are denominated in foreign
currencies; and
-- Currency for Return, in which Record enters into currency
contracts for clients with the objective of generating positive
returns.
Record (LSE: REC) was admitted to trading on the London Stock
Exchange on 3 December 2007.
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOAPGUPWBUPQGCP
(END) Dow Jones Newswires
September 22, 2016 10:33 ET (14:33 GMT)
Record (LSE:REC)
Historical Stock Chart
From Apr 2024 to May 2024
Record (LSE:REC)
Historical Stock Chart
From May 2023 to May 2024