Board Change

RNS Number : 3014A

Home Retail Group Plc

29 March 2012

 



29 March 2012

Home Retail Group plc

Board changes

Home Retail Group today announces that John Coombe will succeed Oliver Stocken as chairman with effect from the conclusion of the Company's Annual General Meeting on 4 July 2012.

Oliver Stocken, Chairman of Home Retail Group, said:

"After 12 years of working with the Argos and Homebase businesses as chairman of Home Retail Group and, prior to the demerger in 2006, as a non-executive director of GUS plc, I have chosen to retire from the Board.  It has been a privilege to be associated with these businesses and the great people that work in them."

Terry Duddy, Chief Executive of Home Retail Group, added:

"We are extremely grateful to Oliver for the significant contribution that he has made to our businesses over many years.  He has been exemplary in his leadership of the Home Retail Group Board and an outstanding ambassador for the Company.  We look forward to working with John in his new role."

John Coombe is currently the senior independent director of Home Retail Group, and chairman of the audit committee.  He is also a non-executive director of HSBC Holdings and chairman of Hogg Robinson Group.  He was formerly the chief financial officer of GlaxoSmithKline.

As a result of John's appointment as chairman, Mike Darcey, Chief Operating Officer, BSkyB, will become senior independent director; Ian Durant, Chairman of Capital & Counties Properties, will become chairman of the audit committee; and Cath Keers,Non-Executive Director of Telefonica 02 Europe, will become chairman of the remuneration committee.  John Coombe will become chairman of the nomination committee.  These changes will also be with effect from the conclusion of the Company's Annual General Meeting on 4 July 2012.

Enquiries

Analysts and investors (Home Retail Group)

Richard Ashton                 Finance Director                         01908 600 291

Don Davis                        Director of Investor Relations

Media

Chris Wermann                 Director of Corporate Affairs      01908 296 334

Rollo Head                        RLM Finsbury                              020 7251 3801

 

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