Virgin Money UK PLC Board Succession Plan (7996B)
03 Februar 2020 - 4:47PM
UK Regulatory
TIDMVMUK TIDM91XR
RNS Number : 7996B
Virgin Money UK PLC
03 February 2020
VIRGIN MONEY UK PLC
(Company)
LEI: 213800ZK9VGCYYR6O495
3 February 2020
Board Succession Plan
The Company announces that, in line with its Board Succession
Plan, Adrian Grace, and Teresa Robson-Capps, both Non-Executive
Directors on the Board of Virgin Money UK PLC, will step down from
the Board. Having resigned, Adrian will leave on 1 May 2020 at the
end of his notice period, while Teresa will leave on 30 June
2020.
Adrian has been a member of the Board since December 2014 and he
is Chair of the Remuneration Committee. Teresa joined the Board in
October 2014 and is a member of the Audit Committee. Both Adrian
and Teresa will also step down as Directors of Clydesdale Bank PLC
and of Virgin Money plc.
Darren Pope, one of the Company's independent Non-Executive
Directors has been appointed a member of the Remuneration Committee
with effect from 3 February 2020 and will succeed Adrian as Chair
of the Board's Remuneration Committee with effect from 2 May 2020,
subject to regulatory approval. Darren joined the Board on 15
October 2018 following the Company's acquisition of Virgin Money.
He was previously a member of the Virgin Money Holdings (UK) plc
Remuneration Committee.
Jim Pettigrew, Chairman of the Company said: "On behalf of the
Board, I would like to thank Adrian and Teresa for their
significant contributions during their time on the Board, including
overseeing the Initial Public Offering (IPO) of the Bank, the
acquisition of Virgin Money, development of a new strategy for the
combined Group, and specifically for Adrian, his work on developing
the role of the Remuneration Committee. Our Board Succession Plan
seeks to right-size the Board over time, in line with best practice
and in response to investor feedback, in order to best support the
Bank in delivering its ambition to disrupt the status quo of UK
banking. We wish Adrian and Teresa well for the future."
There is no additional information to disclose under paragraph
9.6.13R of the Listing Rules.
Announcement authorised for release by Lorna McMillan, Group
Company Secretary.
For further information, please contact:
Investors and Analysts
Andrew Downey +44 20 3216 2694
------------------------------------
Head of Investor Relations +44 7823 443 150
------------------------------------
andrew.downey@virginmoneyukplc.com
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Company Secretary
------------------------------------
Lorna McMillan +44 7834 585436
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Group Company Secretary lorna.mcmillan@virginmoneyukplc.com
------------------------------------
Media Relations
------------------------------------
Powerscourt
------------------------------------
Victoria Palmer-Moore +44 7725 565 545
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Andy Smith +44 7872 604 889
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Press Office 0800 066 5998
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press.office@virginmoneyukplc.com
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END
BOATJMATMTIMBIM
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February 03, 2020 10:47 ET (15:47 GMT)
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