REG - Conduit Holdings Ltd - CEO appointment and Directorate Changes

Conduit HoldingsAnnouncement

14/05/2025 07:00

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RNS Number : 5465I  Conduit Holdings Limited  14 May 2025

Pembroke, Bermuda - 14 May 2025

Conduit Holdings Limited

("CHL" LSE ticker: CRE)

Appointment of Chief Executive Officer and related Directorate Changes

CHL, the ultimate parent company of Conduit Re, a multi-line Bermuda-based
reinsurance business, is pleased to announce the appointment of Neil Eckert as
Chief Executive Officer and certain other related directorate changes with
immediate effect.

Neil has been acting as Conduit's interim Chief Executive Officer since late
March 2025, following the retirement of Trevor Carvey. Rebecca Shelley, Senior
Independent Director, has been appointed as Non-Executive Chair on an interim
basis, while the Board commences a search for a permanent Chair. Ken Randall
becomes Senior Independent Director.

Rebecca Shelley, Interim Chair, commented:

"The Board is pleased to announce the appointment of Neil as permanent CEO of
Conduit. As a founder of Conduit, Neil has been deeply committed to Conduit
since its inception. After conducting a search process, the Board believes
that Neil's wealth of experience, strong leadership and intimate knowledge of
the business and team make him the right leader to guide Conduit through its
next phase of growth and maturity. We are confident that Neil and the
executive team will deliver on Conduit's objectives to generate value for
shareholders."

Neil Eckert, Chief Executive Officer, added:

"I am delighted and honoured to accept the CEO role on a permanent basis and I
look forward to continuing to work with the strong team at Conduit Re to
deliver value to our investors, and to navigate through the inevitable
challenges and opportunities that will come to Conduit Re in the years ahead."

Neil's appointment as permanent Chief Executive Officer has been made
following the conclusion of a recruitment process where CHL's Nomination
Committee was assisted by an independent executive search firm which does not
have any connection with Conduit which would affect its independence.

In accordance with the UK Corporate Governance Code, Rebecca Shelley has been
determined to be independent upon appointment as Interim Chair and there are
no circumstances likely to impair, or appear to impair, her independence.

Sainty Hird will also assist the Board in the recruitment of a permanent
Chair.

Neil's appointment as Chief Executive Officer is subject to Bermuda
immigration approval.

Media contacts

H/Advisors Maitland - Neil Bennett / Daisy Padovan

+44 (0) 207 379 5151

conduitre@h-advisors.global

Haggie Partners - David Haggie / Peter Rigby

+44 (0) 207 562 4444

Investor relations and other enquiries:

brett.shirreffs@conduitre.bm

Panmure Liberum (Joint Corporate Broker)

+44 (0) 207 886 2500

Berenberg (Joint Corporate Broker)

+44 (0) 203 207 7800

Peel Hunt (Joint Corporate Broker)

+44 (0) 207 418 8900

This announcement contains information, which may be of a price sensitive
nature, that Conduit is making public in a manner consistent with the Market
Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018, as amended, and other
regulatory obligations. The information was submitted for publication, through
the agency of the contact persons set out above, at 7:00 am UK time on 14 May
2025.

About Conduit Re

Conduit Re is a Bermuda-based multi-line reinsurance business with global
reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary
Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength
Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a-
(Excellent) to Conduit Reinsurance Limited. The outlook assigned to these
ratings is positive.

Conduit Holdings Limited is the ultimate parent of Conduit Reinsurance Limited
and is listed on the London Stock Exchange (ticker: CRE). References to
"Conduit" include Conduit Holdings Limited and all of its subsidiary
companies.

Learn more about Conduit Re:

Website: https://conduitreinsurance.com/

LinkedIn: https://www.linkedin.com/company/conduit-re
(https://www.linkedin.com/company/conduit-re)

 

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