REG - Dignity PLC - Strategic Update and Directorate Changes

DignityAnnouncement

14/12/2020 07:00

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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

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