REG - RS Group PLC - Directorate Change

RSAnnouncement

03/05/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230503:nRSC2454Ya&default-theme=true

RNS Number : 2454Y  RS Group PLC  03 May 2023

3 May 2023

DIRECTORATE CHANGE

RS Group announces that David Egan has today resigned from his role as Chief
Financial Officer (CFO) and as a Director and will leave the business with
immediate effect. Jane Titchener will take over as Interim CFO until a
permanent replacement CFO is appointed. David will remain available to the
Company for an appropriate transition period.

David Egan said: "I have thoroughly enjoyed my seven years at RS and I am
proud of what we have achieved. Very recently I notified the Board of a
personal relationship with a colleague. Following a detailed review by the
Board, I recognise that there have been some shortcomings of judgment on my
part and my actions have fallen short of the high standards expected of RS
leadership. Therefore, it is right for me to step down from my role. I would
like to thank all the people at RS for their support and commitment during my
tenure. The business is in a position of strength, I am confident in the
Group's prospects and I wish Simon and the rest of the RS team continued
success in the future."

Rona Fairhead, Chair, said: "Following a thorough review, the Board has
accepted David's resignation and in stepping down he recognises the importance
of leaders setting and abiding by exemplary standards. I would like to
acknowledge the significant contribution David has made in his seven years at
RS, driving transformation both as CFO and on two occasions as Acting CEO. On
behalf of the Board, I thank him for his years of service and wish him the
very best for the future."

There is no change to our profit expectations from that reported in the recent
trading update published on 5 April and RS Group will announce its Full Year
Results for the year ended 31 March 2023 on 23 May.

 

 Enquiries:
 Simon Pryce                      Chief Executive Officer  020 7239 8400
 Lucy Sharma                      VP Investor Relations    020 7239 8427
 Martin Robinson / Olivia Peters  Teneo                    020 7353 4200

 

Notes:

1.     Jane Titchener has been with RS Group for over 15 years and is
currently VP Corporate Development. Jane is a qualified chartered accountant
and an experienced finance and tax professional, having previously held the
roles of CFO, Asia Pacific, and VP Group Tax and Treasury. Prior to RS Jane
was a Senior Tax Manager at Ernst & Young.

2.     Details of David Egan's remuneration arrangements on stepping down
from the Board, which are consistent with the Group's remuneration policy,
will shortly be, as required by section 430(2B) of the Companies Act 2006,
available on the Group's website www.rsgroup.com.

2.     This announcement contains inside information for the purposes of
article 7 of EU regulation 596/2014 (which forms part of domestic UK law
pursuant to the European Union (withdrawal) act 2018. The person responsible
for the release of this announcement is Clare Underwood, Company Secretary.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAAJMATMTBMMLJ