REG - Man Group plc - Directorate Change

ManAnnouncement

28/02/2023 07:16

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RNS Number : 2134R  Man Group plc  28 February 2023

Man Group plc

Directorate Change

Man Group plc (the "Company") announces that:

-    John Cryan, who has served as a director of the Company since January
2015 and as Chair of the Board since January 2020, has decided to retire from
the Board towards the end of 2023;

 

-    Anne Wade, who has served on the Board as a non-executive director
since April 2020, will succeed John Cryan as Chair of the Board upon John's
departure in late 2023. At that time, Anne will step down from her position as
Chair of the Remuneration Committee but will remain a member, and will also
assume the role of Chair of the Nomination Committee. The Company intends to
announce the appointment of a new Remuneration Committee Chair in due course,
who will take over from Anne on her appointment as Chair of the Board; and

 

-    Dame Katharine Barker, who has served on the Board since April 2017,
will step down as a non-executive director of the Company and as a member of
the Audit and Risk Committee and the Remuneration Committee on 1 April 2023.

 

The Nomination Committee of the Board (the "Committee") was cognisant of the
fact that, in line with the UK Corporate Governance Code, John Cryan would be
expected to step down from the Board by 15 January 2024, nine years after his
appointment as a director of the Company.  As a consequence, the Committee
has been investing time identifying and considering potential successors for
the Board Chair role.  This included, with the assistance of an external
executive search firm, a thorough preparatory external benchmarking
exercise.  Following recent discussions, John Cryan has now informed the
Board that he intends to retire before the end of this calendar year and the
Committee has recommended, and the Board has now approved, the appointment of
Anne Wade as the new Chair of the Board, to take effect upon John's
retirement.

Richard Berliand, Senior Independent Director, who was responsible for leading
the Chair succession process said: "Anne's extensive financial services, asset
management and plc Board experience made her an excellent candidate to chair
Man Group's Board.  Since joining the Board in 2020, she has built strong
relationships within the business, as well as with our key stakeholders, and
we are looking forward to the Company's next chapter with Anne as Chair."

John Cryan said: "It has been a privilege and a pleasure to serve on the Man
Group Board and I would like to thank my fellow Board members and the
executive management team for their support throughout my tenure. I am
delighted that Anne will be succeeding me as Chair and I feel confident that
the Company will continue to progress from strength to strength for many, many
years to come.

"I would also like to thank Kate for her excellent contributions to the Board
over the past six years. We have benefited significantly from her extensive
knowledge of monetary policy and public finances. We are very grateful for her
insights and, on behalf of the Board, I wish her all the best."

Luke Ellis, CEO, commented: "It has been a pleasure to work with John over the
years. He has a real breadth of corporate experience and his perspectives have
been incredibly valuable to me and to the Company. On behalf of everyone at
Man Group, I wish him well for the future.

"The strategy for the Company remains unchanged as we continue to strengthen
our business for the benefit of our clients, shareholders and stakeholders. We
are delighted that Anne will be taking on the role of Chair. She has already
been a great contributor on the Board and we look forward to continuing to
draw on her extensive experience in the years to come."

Anne Wade commented: "I am delighted to be taking on the role of Chair,
working closely with the Board and the executive team to guide Man Group
through the next phase of its journey. My time on the Board has already shown
me that the Company has a great culture and an abundance of talent.  It is
well positioned to capitalise on its investment expertise and first-class
technology capabilities to deliver outperformance for our clients and
excellent value to our shareholders."

Anne is currently a non-executive director of Summit Materials Inc. and a
Partner at Leaders' Quest. She was previously a non-executive director at John
Laing plc and Holcim Limited and spent 17 years at Capital International where
she held various senior roles within research and equity investment, with a
focus on the infrastructure sector.

Information equivalent to that required under section 430(2B) of the
Companies Act 2006 will be made available on the Company's website.

This announcement is made in compliance with the Company's obligations under
Listing Rule 9.6.11R.

 

Enquiries

 

Georgiana Brunner

Head of Communications

+44 (0)20 7144 1239

media@man.com (mailto:media@man.com)

 

Karan Shirgaokar

Head of Investor Relations

+44 (0)20 7144 1434

investor.relations@man.com (mailto:investor.relations@man.com)

 

Elizabeth Woods

Company Secretary

+44 (0)20 7144 1733

company.secretarial@man.com

 

 

 

 

 

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