("Chesnara" or "the Company")
19 October 2021
LEI Number: 213800VFRMBRTSZ3SJ06
CHESNARA PLC CHANGE OF DIRECTORSHIP
On 12 May 2021, Chesnara announced that John Deane intended to retire from the Company and to step down as Group Chief Executive by the end of the year. Chesnara also announced that it had identified Steve Murray as intended successor to the role of Group Chief Executive, subject to regulatory approval, and he was subsequently appointed an Executive Director of Chesnara and Countrywide Assured plc on 2 August 2021.
Chesnara is today delighted to announce that the necessary regulatory approval has been secured in the UK and Steve is therefore appointed to the role of Chesnara's Group Chief Executive with immediate effect. At the same time, John Deane ceases to be a Director of both Chesnara and Countrywide Assured plc. John will remain a Director on the relevant Boards of the Company's Netherland and Swedish businesses until local regulatory approval is secured for Steve Murray.
The previously noted remuneration arrangements agreed with Steve will be actioned at the appropriate time and announced by RNS as required with further disclosure to be provided in the Directors' Remuneration Report in 2022.
For further information, please contact:
Director, Capital Markets
Forward thinking communications
T - 020 7280 0651
Notes to Editors
Chesnara is a life and pensions company listed on the London Stock Exchange. It administers approximately 900,000 policies and operates as Countrywide Assured in the UK, as The Waard Group and Scildon in the Netherlands, and as Movestic in Sweden.
Following a three-pillar strategy, Chesnara's primary responsibility is the efficient administration of its customers' life and savings policies, ensuring good customer outcomes and providing a secure and compliant environment to protect policyholder interests. It also adds value by writing profitable new business in Sweden and the Netherlands and by undertaking value-adding acquisitions of either companies or portfolios.
Consistent delivery of the Company strategy has enabled Chesnara to increase its dividend for 17 years in succession.
Further details are available on the Company's website (www.chesnara.co.uk).