Record PLC Board Changes (7584T)
November 17 2023 - 1:00AM
UK Regulatory
TIDMREC
RNS Number : 7584T
Record PLC
17 November 2023
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17 November 2023
RECORD PLC
Board Changes
Record plc ("Record", the "Company" or the "Group"), the
specialist currency and asset manager, announces that after 31
years at Record, and four years as CEO, Leslie Hill will retire as
Chief Executive Officer at the end of the current financial year in
March 2024.
Having pivoted the business from a pure currency manager to a
broader-based asset manager, the Board has agreed with Leslie that
now is the right time to implement the next stage of the strategic
succession plans developed over recent years.
The board is delighted to announce Dr Jan Witte's appointment to
the board in the role of executive director and CEO Elect,
effective 1 January 2024, and its intention to formally appoint Jan
as Record's new CEO, with effect from 1 April 2024. Several months
ago, the board identified Jan as a preferred candidate for
succession as CEO. Jan, who has recently moved with his family to
London, is currently CEO of the Group's two regulated subsidiaries:
Record Currency Management Limited and Record Asset Management
GmbH.
Leslie will remain available on an advisory basis supporting the
handover and transition of client relationships in line with the
succession strategy.
David Morrison, Chairman, said, "I would like to thank Leslie
for 31 years of service to Record and for all the critical work she
has accomplished during this time, and to wish her a very long,
healthy and happy retirement. I am delighted to welcome Jan to the
board and to the role of CEO Elect - he has already demonstrated
the right attributes and qualities to become Record's next CEO and
we have been working with him as a possible successor to Leslie for
some time. I look forward to continuing to work with Jan and the
rest of the Board and executive team to deliver value for all of
Record's stakeholders."
Leslie Hill, Chief Executive Officer, commented, "I have loved
almost every day at Record and, as requested, have delivered a
robust succession plan and an enlarged and diversified product
suite and service offering. Now is the right time to pass the reins
over to others for them to further build and diversify the
business. I am ready to work as much or as little as requested, to
help and coach our great team to more success in the future. As a
large shareholder, I will remain a supportive and interested ally
in our wonderful company, which I believe has a very bright future
ahead."
Jan Witte commented, "I am excited to be given the opportunity
to become Record's next CEO, and to working with my colleagues to
take the Group forward in the further pursuit of growth. We will
continue to evolve the business, building on the strong foundations
laid by Leslie over her four year tenure as CEO".
This announcement is made pursuant to Listing Rule 9.6.11R.
The Company confirms that no further disclosure is required
under LR 9.6.13R in respect of the appointment of Jan Witte as an
executive director of the Company.
Jan Witte has an existing shareholding of 1,153,711 Ordinary
Shares in the Company.
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END
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