10 June 2024
JTC PLC
(the "Company" and together
with its subsidiaries "JTC" or the "Group")
Resignation of Independent
Non-Executive Director
JTC announces the
resignation of Kate Beauchamp from her position as an Independent
Non-executive Director of the Company, effective
immediately.
Kate's resignation will enable her
to assume the role of Group Head of Institutional Client Services
at JTC with responsibility for the strategic development and
performance of the Group's global funds and corporate business
lines. Kate's appointment as Group Head of Institutional
Client Services will take effect from 2 September 2024. As part of
her new role, Kate will lead the global Institutional Client
Services board and be appointed as a member of the JTC Group
Holdings board.
Prior to her resignation
as an Independent Non-executive Director of the
Company Kate was the Chair of the Governance & Risk
Committee and a member of the Audit, Nomination and Remuneration
Committees.
The Company's Senior
Independent Non-executive Director, Dermot
Mathias, has been appointed as interim Chair of the Governance
& Risk Committee.
The Board acknowledges the temporary
reduction in female representation, falling below its stated
minimum target of 40%, due to Kate's resignation. However, it is
the Board's collective belief that the Company will greatly benefit
from Kate's decision to join JTC's senior management team and has
taken appropriate action to ensure that the resulting Board gender
imbalance is addressed swiftly.
The Board and Nomination Committee
commenced the search for suitable additional independent
Non-Executive Directors to further strengthen the Board and enhance
diversity in December 2023. This process has been expanded to
include candidates to replace Kate as an Independent Non-Executive
Director and to serve as Chair of the Governance & Risk
Committee.
The Company will provide further
updates on these appointments in due course.
In the meantime, the composition of
the Board's Committees is as follows:
· Audit
Committee: Dermot Mathias (Chair), Michael Gray and Erika
Schraner
· Remuneration Committee: Michael Gray (Chair), Mike Liston,
Dermot Mathias and Erika Schraner
· Nomination Committee: Erika Schraner (Chair), Mike Liston,
Dermot Mathias, Michael Gray and Wendy Holley
· Governance & Risk Committee: Dermot Mathias (interim
Chair), Michael Gray and Erika Schraner
No further information is required
to be disclosed pursuant to Listing Rule 9.6.13R.
Commenting on today's announcement, Mike Liston, Chairman of
JTC said:
"On behalf of the Board I would like to thank Kate for
her valuable contribution during her tenure on the Board. We are
delighted that she is now taking the role of Group Head of
Institutional Client Services and anticipate Kate's in-depth
knowledge of JTC's operations, accumulated during her time as a
Non-executive Director, will bring invaluable insights to her new
management responsibilities. We look forward to her continued
contributions to the Company's success."
Nigel Le Quesne, CEO of JTC, said:
I
am delighted to welcome Kate to JTC's management team. As a
qualified lawyer with over two decades of experience in both
private and commercial practice, Kate has a proven track record of
providing exceptional corporate and advisory services in the UK and
US. In addition to her most recent tenure as the CEO of a global
engineering group, she acts as an independent consultant on good
governance and board effectiveness to both private and public
companies. A seasoned lecturer on matters of property, trusts, and
equity under UK law, Kate's insight, professionalism, and strong
governance expertise is a welcome addition to the Group's executive
team. Kate's time as a Non-executive Director on the Board has
further honed her ability to offer an independent perspective,
potential risk-sensing capability, and broader outlook, which is
instrumental in facilitating balanced and well-rounded leadership
decisions. I wish Kate every success in her new role at
JTC."
Kate Beauchamp, added:
"Having been immersed in the Group's ethos and operations as a
Non-executive Director at JTC over the past two and a half years, I
am thrilled to now be transitioning into the role of Group Head of
Institutional Client Services. Throughout my tenure on the Board, I
have been consistently inspired by the stellar standards of
corporate governance and risk management which underpin the Group's
operations and my focus will remain on fostering the unique culture
and commitment to service excellence that the JTC team embodies. I
look forward to lending my insights and experiences more directly
in service of our institutional clients, contributing to the
Company's growth ambitions in this new capacity."
Further information:
Miranda Lansdowne
Group Company Secretary
+44 1534 700 000
Miranda.Lansdowne@jtcgroup.com
About JTC
JTC is a publicly listed, global
professional services business with deep expertise in fund,
corporate and private client services. Every JTC person is an owner
of the business and this fundamental part of our culture aligns us
with the best interests of all our stakeholders. Our purpose is to
maximize potential and our success is built on service excellence,
long-term relationships and technology capabilities that drive
efficiency and add value.
www.jtcgroup.com