REG - NatWest Group plc - Chair Succession

NatwestAnnouncement

06/09/2023 13:30

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RNS Number : 5973L  NatWest Group plc  06 September 2023

Chair Succession

RNS announcement

 

The Board of NatWest Group plc is pleased to announce that Richard
Haythornthwaite ("Rick") will succeed Sir Howard Davies as Chair, subject to
regulatory approval.

 

Rick will join the Board of NatWest Group plc as an independent non-executive
director on 8 January 2024 and following a handover period will take over as
Chair on 15 April 2024, when Sir Howard Davies will stand down from the
Board.

 

Mark Seligman, Senior Independent Director, said: "At our AGM in April 2023 we
announced that we would be commencing the search for Howard's
successor. Today's announcement follows a rigorous process which I have led
along with the senior independent directors from our ring-fenced bank.  After
careful consideration of a number of high-quality candidates, the Board has
unanimously chosen Rick as our new Chair.

 

Rick is a highly experienced Chair who combines a successful commercial career
with a deep knowledge of financial services markets and technology, as well as
a strong track record of delivery at significant customer-facing
organisations."

Sir Howard Davies said: "I am very pleased by the choice the Board has made
and am confident that Rick's experience and range of skills will complement
and further strengthen the NatWest Board in the years to come. I look forward
to working closely with him to ensure a smooth handover next year."

 

Rick Haythornthwaite said: "It is a privilege to assume the role of NatWest
Group Chair. I am inheriting a very different NatWest compared to my
predecessor; one that is more customer focused, financially resilient and well
positioned to maintain its recent strong performance. I look forward to
working with the Board to build on the exceptional progress made, so we can
continue to support the UK economy and deliver for our customers and
stakeholders."

 

Rick is Chair of Ocado Group plc and a non-executive director of NYSE-listed
Globant S.A. He also has a number of private company directorships which
include chairing the AA, QiO Technologies Ltd and Railsr, alongside a role as
an advisory partner at investment bank Moelis & Co.

 

Prior to taking up his appointment as Chair of Natwest Group plc, Rick will be
stepping down as a director of Globant S.A. and from his private company
directorships apart from the AA where he will transition to become a
Non-Executive Director.

 

Previous roles:

·    Global Chair of Mastercard Inc.: 2006-2020.

·    Chair of Centrica plc: 2014-2019.

·    Chair of Network Rail Limited: 2009-2012.

·    Chair, Haythornthwaite Review of UK Armed Forces Incentivisation:
2022-2023.

·    Chair of the Creative Industries Federation/Creative England:
2017-2022.

·    Chair of the Board of Governors of the Southbank Centre: 2008-2016.

·    CEO of Invensys plc: 2001-2005.

·    CEO at Blue Circle Group plc: 1999-2001.

·    Non-executive director at Land Securities Group plc, Imperial
Chemical Industries plc, Lafarge S.A. and Cookson Group plc.

 

There are no other matters requiring disclosure under Rule 9.6.13 of the
Listing Rules.

 

Fees

In accordance with section 430(2B) of the Companies Act 2006, NatWest Group
plc confirms that Howard Davies will receive payment of fees for service
whilst a director.  Under the terms of his appointment no other remuneration
payment or payment for loss of office will be made in connection with his
departure.

 

On assuming the role of Chair, Rick Haythornthwaite's fee will be £775,000
p.a., which is the fee currently paid to Howard Davies (increased from
£750,000 to £775,000 from 1 May 2023 following a fee review).

 

For further information contact:

NatWest Group Investor Relations:

Alexander Holcroft

Head of Investor Relations

+44 (0) 20 7672 1758

 

NatWest Group Media Relations:

+44 (0) 131 523 4205

 

LEI: 2138005O9XJIJN4JPN90

 

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