CPPGroup Plc Directorate Change (5068X)
May 06 2016 - 4:57AM
UK Regulatory
TIDMCPP
RNS Number : 5068X
CPPGroup Plc
06 May 2016
6 May 2016
CPPGroup plc
DIRECTORATE CHANGE
APPOINTMENT OF CEO
CPPGroup Plc (CPP or the Group), the international assistance
business, is pleased to announce that Jason Walsh will be appointed
Chief Executive Officer of the Group with effect from 16 May 2016
and to the Board as a director with effect from the end of the AGM
on 18th May 2016.
Jason, a previous employee of the Group between 2002 and 2014,
was the Managing Director of its UK insurance businesses in his
last role with the Company and has held the senior approved person
functions for both the Card Protection Plan Ltd and Homecare
Insurance Ltd businesses. In his previous roles within the Group,
Jason held a number of other senior management positions including
business transformation and international product and marketing
roles, during which he helped the Group through its past FSA issues
and to develop and grow in its overseas markets.
More recently, since leaving CPP in July 2014, Jason has been
working for EY within its Financial Services Advisory practice in a
role for one of its major UK banking clients, focusing on
regulatory and remediation programmes.
Application will be made to the FCA for the requisite approvals
of Jason as soon as possible.
Sir Richard Lapthorne, Chairman, commented:
"We are delighted to have secured Jason's services as CPP's
Chief Executive Officer. CPP has been through a difficult period
and we must now focus on rebuilding the business - retaining what
is great about the Company as well as branching out and expanding
into new areas. Jason's knowledge of the business and the sector in
which it operates, along with his strong regulatory expertise, will
allow the Group to do this in a way which is of benefit to our
customers, our colleagues and to the creation of long term
sustainable value."
Jason Walsh commented:
"I am delighted to be back working for CPP. This is a great
business, with over 700 talented, passionate and committed
colleagues, serving customers across 12 countries - and it has a
very bright future. My number 1 priority is to set a direction for
our colleagues and to provide them with an environment in which
they can develop and grow, innovate and provide the best possible
products and services for our customers, which will in turn
generate growing value for our shareholders.
There is a platform in place and we must continue to build on
this to achieve these objectives. Much good work has already been
done to rebuild the business over the last few years; the Company
is on a much firmer financial footing but we now need to add pace
to the business transformation plans, get new products to market,
develop existing and create new business partner relationships,
create a competitive advantage in our digital offering, as well as
work with the FCA and PRA in order to restore the Group's UK
trading permissions as an essential enabler for our goal of
achieving better long term performance.
I look forward to working with the new Board, together with some
new and familiar faces in the coming months to deliver against
these goals.
Enquiries:
Maitland: Neil Bennett; Daniel Yea
Tel: +44 (0)20 7379 5151
Nominated Adviser and Broker
Numis Securities Limited: Stuart Skinner; Charles Farquhar
Tel: +44 (0)20 7260 1000
Notes to Editors
CPP provides a range of assistance based services to customers
in the UK & Ireland and in a number of international markets
across Asia, Europe and Latin America. The Company's core
propositions provide peace of mind for customers covering a range
of areas including lost and stolen credit cards, identity theft,
insurance of mobile devices, and passport assistance.
For more information on CPP visit www.cppgroupplc.com
REGISTERED OFFICE
CPPGroup Plc
Holgate Park
York
YO26 4GA
Registered number: 07151159
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOAAFMLTMBAMMFF
(END) Dow Jones Newswires
May 06, 2016 05:57 ET (09:57 GMT)
Cppgroup (LSE:CPP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cppgroup (LSE:CPP)
Historical Stock Chart
From Jul 2023 to Jul 2024