SAGA PLC Directorate Change (8208U)
2023年11月28日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMSAGA
RNS Number : 8208U
SAGA PLC
28 November 2023
28 November 2023
Directorate Change
Saga plc, the UK's specialist in products and services for
people aged 50 and over, announces that, after four years with the
business, Euan Sutherland will be standing down as Group Chief
Executive Officer. Following a thorough internal and external
process, the Board is pleased to announce that he will be replaced
by Mike Hazell, currently Group Chief Financial Officer. Mike, in
turn, will be succeeded by Mark Watkins, currently Group Chief
Corporate Development Officer.
Euan informed the Board of Saga earlier this year that he
believed the time was right time for him to stand down, allowing
for the appointment of a new CEO to take Saga onto the next phase
of its development. After joining Saga in January 2020, Euan
stabilised the business, launched a new strategy and significantly
strengthened the leadership team. He steered Saga through the
COVID-19 pandemic and oversaw detailed work to strengthen the brand
and identify new income streams.
Mike, who joined Saga on 9 October 2023, has more than 25 years
of multi-sector experience in a variety of executive roles. Most
recently Interim CFO at The Co-op Group, he was previously Joint
Chief Executive Officer of Debenhams, the retail chain and had held
senior roles at BSkyB and Pfizer.
Mark, a chartered accountant, has held a series of senior roles
across finance, strategy and investor relations in a 20-year career
at companies including Saga, Intertek, Secure Energy Services,
Bovis Homes and Deloitte.
Mike and Mark, who have been working closely together since
Mike's arrival at Saga, will assume their new roles with immediate
effect; Euan will stay on until 31 January 2024 to support in the
transition to new leadership.
Sir Roger De Haan, Non-Executive Chairman of Saga, said:
"I would like to thank Euan for the enormous contribution he has
made to Saga since he joined the business four years ago. His
belief in the strength of the Saga brand and the talent of our
people was central to everything he has done to stabilise this
business and return it to profitable growth. We wish him well for
the next phase of his career.
"I am delighted that Mike is becoming Group CEO and that Mark is
stepping up into the role of CFO. These changes are the result of
carefully managed succession planning. Mike and Mark have the right
skills and experience to take Saga into the next phase of its
development. The Board and I look forward to working with them to
further unlock the potential in this business and deliver for our
customers and our shareholders."
Euan Sutherland, Group Chief Executive Officer of Saga,
said:
"I joined Saga because I was excited about working to strengthen
a unique British brand with a strong heritage, great people and a
customer cohort that was under served. I am very proud of
everything we have achieved over the past four years, particularly
our work to strengthen the brand and to better serve our customers
with unique products and services. The time is right for someone
else to take Saga into the next phase of its development and I am
delighted to hand over to Mike and Mark, who I know will lead this
business with passion and determination."
Mike Hazell said:
"Saga is a unique business, with a strong brand, a committed
workforce and an exciting future. I am delighted to take over from
Euan and will continue to deliver against the Group strategy to
maximise the performance of our existing businesses and reduce
debt. I look forward to working with Mark and the rest of the
executive team, the Board and all my wider Saga colleagues to take
the Group to the next phase of its development."
Additional Information
The effective date of resignation of Euan Sutherland as a
statutory director is confirmed as 28 November 2023.
There is no further information required to be disclosed
pursuant to paragraph LR 9.6.13R of the Listing Rules of the
Financial Conduct Authority.
For further information, please contact:
Saga plc Tel: 07732 093 007
Emily Roalfe, Director of Investor Email: emily.roalfe@saga.co.uk
Relations and Treasury
Headland Consultancy Tel: 020 3805 4822
Susanna Voyle Tel: 07980 894 557
Will Smith Tel: 07872 350 428
Email: saga@headlandconsultancy.com
Notes to Editors:
Saga is a specialist in the provision of products and services
for people over 50. The Saga brand is one of the most recognised
and trusted brands in the UK and is known for its high level of
customer service and its high-quality, award-winning products and
services including cruises and travel, insurance, personal finance
and
media. www.saga.co.uk
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END
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November 28, 2023 02:00 ET (07:00 GMT)
Saga (LSE:SAGA)
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