18:00 Wed 11 Dec 2019
Stagecoach Group PLC - Planned Board Changes
Planned Board changes
The following changes to the Board of Directors are planned:
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Sir |
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Deputy Chairman and Senior Independent Director, |
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Dame |
Commenting on the planned Board changes, Sir
"My family and I continue to have a significant shareholding in Stagecoach and I have every confidence in the management team, our strategy and the positive prospects of the business. I look forward to continuing to represent the interests of stakeholders as a Non-Executive Director on the Board."
Following these changes, the Company's Board of Directors will consist of seven directors:
· An independent, non-executive Chairman;
· Three other independent, Non-Executive Directors;
· One Non-Executive Director who is not considered independent and;
· Two executive directors, the Chief Executive and the Finance Director.
The Chairman and three of the other Non-Executive Directors meet the criteria for director independence set out in the
The Board changes and its succession planning also reflect the significant changes over the past two years in the scale of the Group and the markets in which it operates. The Directors are satisfied that moving forward the Board will continue to have a strong governance structure and collective mix of skills and experience that will drive the Company's continued success.
In addition, the Directors remain firmly committed to promoting diversity within the Board, including in respect of age, gender or educational and professional backgrounds. The Board acknowledges that, immediately following the planned changes, only one of its directors (12.5% of the Board) will be female. Over many years, the Board and our Company more widely has benefitted from highly skilled and experienced female directors and executives. Consistent with our previously set long-term aspiration for female representation on the Board of at least 25%, we will look to address this area as part of Board succession planning.
"I am delighted to have the privilege of succeeding
ENDS
For further information, please contact:
Investors and analysts
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01738 442111 |
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01738 442111 |
Media
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01738 442111 or 07764 774680 |
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020 3047 2476 |
Notes to editors
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Stagecoach is a leading public transport company, with operations in |
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We employ around 24,000 people and operate more than 8,300 buses, coaches and trams. |
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Stagecoach is |
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