RNS Number:7638G
Highway Insurance Holdings PLC
26 July 2006



                         HIGHWAY INSURANCE HOLDINGS PLC

                                 BOARD CHANGES


The Board of Highway Insurance Holdings Plc ("the Company") announces that Ross
Dunlop, Executive Chairman, has resigned from the Company with effect from 31
July 2006.  As a consequence and with immediate effect, the Board has today
appointed non-executive director Richard Gamble as Executive Chairman of the
Company, in place of Ross Dunlop, pending the appointment of a Chief Executive.
It is intended that Richard Gamble will become Non-executive Chairman when a
Chief Executive is appointed.  Peter Salsbury has been appointed Deputy Chairman
with immediate effect.


The Board also announces the following appointments, which are effective
immediately:


  * Arthur Milton, previously Interim Chief Financial Officer, has been
    appointed to the Board as Group Finance Director and will report to Richard
    Gamble.

  * David Barker and Judy Kellie have re-joined the Board as non-executive
    directors.


Chris Hill (Managing Director, Insurance) and Paul Cosh (Managing Director,
Retail) continue in their previous roles as executive directors and will report
to Richard Gamble.


Commenting on the appointments, Richard Gamble said:


"Today's restructuring of the Board and the appointment of Arthur Milton as
Group Finance Director represent the first stages in strengthening the team that
will drive the business forward.  Highway has made significant advances over the
last four years and our role is to sustain the momentum in the next stage of its
development."


The Board of Highway Insurance Holdings Plc now comprises the following:


Richard Gamble (Executive Chairman)

Peter Salsbury (Deputy Chairman and Senior Independent Director)

David Barker (Non-executive Director)

Judy Kellie (Non-executive Director)

Jan Shawe (Non-executive Director)

Chris Hill (Managing Director, Insurance)

Paul Cosh (Managing Director, Retail)

Arthur Milton (Group Finance Director)


Richard Gamble will be appointed Chairman of the Group's FSA regulated insurer,
Highway Insurance Company Limited (HighCo), subject to FSA approval.  Peter
Salsbury and Jan Shawe will also join the HighCo board as Non-executive
Directors, subject to FSA approval.  David Barker and Judy Kellie will continue
to act as Non-executive Directors of HighCo.


The Company continues to perform in line with market expectations and will
report its interim results on 6 September 2006.

Enquiries


M:Communications


Nick Fox                                               020 7153 1540
Caroline Villiers                                      020 7153 1521

Highway Insurance Holdings Plc

Richard Gamble                                         01277 266298
Peter Salsbury                                         01277 266298


Biographical Details for Arthur Milton


Arthur Milton qualified as a chartered accountant with Coopers & Lybrand.  He
subsequently has 25 years experience in the insurance and investment management
sectors.  His previous roles include UK Finance Director of GE Employers
Reinsurance and Chief Executive of Toplis and Harding plc.  He has also
undertaken a number of senior level interim assignments with Threadneedle
Investments, Norwich Union, BNP Paribas Securities Services, St Paul Travelers
Insurance Group and Millfield Group plc.


Note:


In accordance with paragraph 9.6.13 of the UK Listing Authority listing rules:


 i. David Barker and Judy Kellie were previously Non-executive Directors of
    Highway Insurance Holdings Plc, from 12 March 2003 to 28 March 2006 and 5
    February 2003 to 28 March 2006 respectively.  There are no other matters
    required to be disclosed under paragraph 9.6.13 of the listing rules
    regarding David Barker and Judy Kellie.
ii. Arthur Milton's experience includes two difficult turnaround situations in
    overgeared groups where from commencement substantial financial
    restructuring was necessary and which require disclosure under paragraph
    9.6.13:


a)                He was Group Finance Director of Toplis and Harding plc from
August 1992 to December 1994 and Chief Executive from December 1994 to August
1995.  After restructuring, insurance market conditions remained difficult and
Toplis and Harding plc appointed an Administrative Receiver in August 1995.

b)                He was Interim Group Finance Director of Millfield Group plc
(AIM listed) from 19 July 2005 to 1 March 2006.  Subsequent to his departure
Millfield Group plc was unsuccessful in securing a refinancing from its
insurance company loan providers and appointed an Administrative Receiver on 7
July 2006.


There are no other matters required to be disclosed under paragraph 9.6.13 of
the listing rules regarding Arthur Milton.



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

BOARFMJTMMMTBAF
Highway Insurance (LSE:HWY)
Historical Stock Chart
From Jul 2024 to Aug 2024 Click Here for more Highway Insurance Charts.
Highway Insurance (LSE:HWY)
Historical Stock Chart
From Aug 2023 to Aug 2024 Click Here for more Highway Insurance Charts.