REG - Chesnara PLC - Directorate Change

ChesnaraAnnouncement

14/02/2020 07:00

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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 (mailto: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 £7.7 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
(http://www.chesnara.co.uk/) ).

 

 

 

 

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