Jupiter Fund Management PLC Non-Executive Chair change and AGM update (4459X)
April 26 2023 - 2:00AM
UK Regulatory
TIDMJUP
RNS Number : 4459X
Jupiter Fund Management PLC
26 April 2023
Jupiter Fund Management plc
("Jupiter" or the "Company")
26 April 2023
Non-Executive Chair change and AGM update
Jupiter today announces the following changes to its Board of
Directors (the "Board") and the membership of various Board
committees.
Nichola Pease, Jupiter's Non-Executive Chair, has informed the
Company of her intention to step down from the Board for personal
reasons. The Board has appointed David Cruickshank as Non-Executive
Chair of Jupiter and Chair of the Nomination Committee, subject to
regulatory approval. David is currently an independent
Non-Executive Director of the Company and Chair of the Audit and
Risk Committee.
Further to the above changes, Karl Sternberg will act as interim
Chair of the Audit and Risk Committee, subject to regulatory
approval, and Roger Yates will also join the Audit and Risk
Committee.
All of the above changes will take place with immediate effect.
A process to identify a permanent Chair of the Audit and Risk
Committee is underway and a search to recruit at least one new
independent Non-Executive Director will now be undertaken.
Roger Yates, Senior Independent Director of the Company
commented:
" Nichola was appointed to the Board in 2020 and has led the
Company through the integration of Merian Global Investors, against
a backdrop of the global pandemic, and the transition to a new
Chief Executive last year. She has shown great dedication to
Jupiter's business throughout her tenure, in what have been
exceptional circumstances. The Board wishes her all the very best
for the future.
We are delighted to appoint such an experienced business leader
in David Cruickshank to succeed Nichola. David was formerly Chair
of Deloitte's UK and then it's Global Boards and retired from the
firm in 2020. He has developed a deep understanding of our business
since joining the Board in June 2021. We continually keep under
review both internal and external candidates for all key positions
as part of the Board's ongoing succession planning and we are
confident that David has the right knowledge, skills and experience
to lead the Board whilst also providing important continuity."
Matthew Beesley, CEO of Jupiter commented:
"It has been a privilege to work with Nichola and I have
benefited from her support and strategic insights since my
appointment. I look forward to working with David and the rest of
the Board as we continue to drive progress in line with our
strategic ambitions."
David Cruickshank, Chair of the Company commented:
"I am pleased to be appointed Chair of Jupiter and look forward
to working with the team as we continue our resolute focus on
delivering for our clients, shareholders and indeed all
stakeholders. Nichola leaves an experienced and talented Board, who
are focused on helping deliver our strategy and I would like to
extend our thanks to Nichola, on behalf of the Board, for her
strong leadership and support."
AGM update
Following Nichola Pease's decision to step down from the Board
of Jupiter, the Company confirms that it is withdrawing the
resolution to re-elect her as a Director at the Annual General
Meeting ( " AGM " ) to be held on 10 May 2023 (Resolution 9 of the
Company's Notice of AGM dated 29 March 2023).
The proposed withdrawal of Resolution 9 does not otherwise
affect the validity of the Notice of Annual General Meeting, the
proxy form or any proxy votes already submitted on other
resolutions. The numbering of all other proposed resolutions at the
Annual General Meeting will remain unchanged.
There are no other details that are required to be disclosed
under paragraph 9.6.13R of the Listing Rules.
Ends
For further information please contact:
Investors Media
Jupiter Alex James Despina Constantinides
+44 (0)20 3817 1636 +44 (0)20 3817 1278
Powerscourt Justin Griffiths
+44 (0)20 7250 1446
Employment arrangements:
As Non-Executive Chair, Mr Cruickshank will be paid an annual
fee of GBP235,000, being the same rate as was paid to Ms Pease.
Such fee will be subject to periodic review in line with the
Company's remuneration policy.
Changes to the membership and Chair of the Audit and Risk
Committee, will result in revised NED fees for those impacted
directors, in accordance with our standard NED fee structure as
previously disclosed.
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END
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