REG - XPS Pensions Group - Chairman and Non-Executive Director succession

XPS PensionsAnnouncement

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RNS Number : 4754N  XPS Pensions Group PLC  19 June 2025

19 June 2025

 

 

 

XPS Pensions Group plc

 

Chairman and Non-Executive Director succession

 

XPS Pensions Group plc ("XPS" or the "Group") announces that Alan Bannatyne,
Independent Non-Executive Chairman, has informed the Board of his wish to step
down from the Board following the conclusion of the Company's Annual General
Meeting on 4 September 2025, in line with the Group's succession plan as Alan
will soon reach 9 years tenure as a Director and therefore will no longer be
considered independent of the Group under the UK Corporate Governance Code.
Martin Sutherland, Non-Executive Director who joined the Board in December
2023, will be appointed as Independent Non-Executive Chairman of the Group
following the AGM.

 

Margaret Snowdon OBE, Independent Non-Executive Director, will also reach 9
years tenure as a Director in January 2026, and will step down from the Board
following the recruitment of an additional Non-Executive Director, the timing
of which is yet to be confirmed.

 

Ben Bramhall, Co-Chief Executive Officer, commented: "It's been an absolute
pleasure working with Alan since he joined the Board in 2017 to support our
listing on the London Stock Exchange. On behalf of the Board, I'd like to say
a big thank you for everything he has done during his tenure, which has seen
XPS grow from a business with c. 400 employees into a FTSE 250 company with c.
1,900 employees. We are delighted that Martin Sutherland has agreed to succeed
Alan as Chairman and look forward to continuing to work with Martin to
capitalise on the opportunities ahead."

 

Paul Cuff, Co-Chief Executive Officer, commented: "I would like to say a
personal thank you to Alan for everything that he has done for XPS, and for
all the support he has given to me and the senior team here over the years.
It's been a fantastic journey since we listed on the London Stock Exchange in
2017, and Alan has played a big part in the success of the business providing
insight, guidance and challenge throughout. We will miss him around the
boardroom table but look forward to staying in touch and wish him all the best
for the future."

 

Alan Bannatyne, outgoing Chairman, commented: "What a transformation since
listing on the London Stock Exchange eight years ago. I can only commend the
team in the highest possible way, not just for creating growth and
increasing profits, but also for always focusing on the longer-term
opportunities. I have every confidence that under Martin's leadership the
Board will take the business to new levels. Ultimately, it's the whole XPS
team that deliver great results for clients - I wish them all very successful
careers and within XPS they undoubtedly have every opportunity."

 

-Ends-

 

 

For further information, contact:

 

 XPS Pensions Group
 Snehal Shah                        +44 (0)20 3978 8626

 Chief Financial Officer

 Canaccord Genuity (Joint Broker)   +44 (0)20 7523 8000

 Adam James

 George Grainger

 Deutsche Bank (Joint Broker)       +44 (0)20 7260 1000

 Stuart Skinner

 Kevin Cruickshank

 Media Enquiries:

 Camarco

 Gordon Poole                       +44 (0)20 3757 4980; xps@camarco.co.uk (mailto:xps@camarco.co.uk)

 Rosie Driscoll

 Phoebe Pugh

 

Notes to Editors:

 

XPS Group is a leading consulting and administration business focused on UK
pension schemes and insurers. XPS combines expertise, insight and technology
to address the needs of over 1,300 pension schemes and their sponsoring
employers on an ongoing and project basis, also providing advice and
administration to UK insurance companies. We undertake pensions administration
for c. 1.2 million members and provide advisory services to schemes and
corporate sponsors in respect of schemes of all sizes, including 86 with
assets over £1bn.

 

 

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