REG - Record PLC - Board Changes

RecordAnnouncement

17/11/2023 07:00

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RNS Number : 7584T  Record PLC  17 November 2023

 

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which forms part of domestic UK law pursuant to the European Union
(Withdrawal) Act 2018 ("UK MAR").  Upon the publication of this announcement
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17 November 2023

 

RECORD PLC

 

Board Changes

 

Record plc ("Record", the "Company" or the "Group"), the specialist currency
and asset manager, announces that after 31 years at Record, and four years as
CEO, Leslie Hill will retire as Chief Executive Officer at the end of the
current financial year in March 2024.

 

Having pivoted the business from a pure currency manager to a broader-based
asset manager, the Board has agreed with Leslie that now is the right time to
implement the next stage of the strategic succession plans developed over
recent years.

 

The board is delighted to announce Dr Jan Witte's appointment to the board in
the role of executive director and CEO Elect, effective 1 January 2024, and
its intention to formally appoint Jan as Record's new CEO, with effect from
1 April 2024. Several months ago, the board identified Jan as a preferred
candidate for succession as CEO.  Jan, who has recently moved with his family
to London, is currently CEO of the Group's two regulated subsidiaries: Record
Currency Management Limited and Record Asset Management GmbH.

 

Leslie will remain available on an advisory basis supporting the handover and
transition of client relationships in line with the succession strategy.

 

David Morrison, Chairman, said, "I would like to thank Leslie for 31 years of
service to Record and for all the critical work she has accomplished during
this time, and to wish her a very long, healthy and happy retirement. I am
delighted to welcome Jan to the board and to the role of CEO Elect - he has
already demonstrated the right attributes and qualities to become Record's
next CEO and we have been working with him as a possible successor to Leslie
for some time. I look forward to continuing to work with Jan and the rest of
the Board and executive team to deliver value for all of Record's
stakeholders."

 

Leslie Hill, Chief Executive Officer, commented, "I have loved almost every
day at Record and, as requested, have delivered a robust succession plan and
an enlarged and diversified product suite and service offering. Now is the
right time to pass the reins over to others for them to further build and
diversify the business. I am ready to work as much or as little as requested,
to help and coach our great team to more success in the future. As a large
shareholder, I will remain a supportive and interested ally in our wonderful
company, which I believe has a very bright future ahead."

Jan Witte commented, "I am excited to be given the opportunity to become
Record's next CEO, and to working with my colleagues to take the Group forward
in the further pursuit of growth. We will continue to evolve the business,
building on the strong foundations laid by Leslie over her four year tenure as
CEO".

This announcement is made pursuant to Listing Rule 9.6.11R.

The Company confirms that no further disclosure is required under LR 9.6.13R
in respect of the appointment of Jan Witte as an executive director of the
Company.

Jan Witte has an existing shareholding of 1,153,711 Ordinary Shares in the
Company.

 

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