Directorate Change

RNS Number : 5972F

Savills PLC

15 January 2010

 



15 January 2009

SAVILLS Plc

("Savills" or "the Group")

BOARD RESTRUCTURING, NOTIFICATION OF 2009 RESULTS AND APPOINTMENT OF BROKERS

Board Restructuring

Savills Plc, the international real estate advisor, announces the restructuring of its Board to streamline the management of the Group and provide an improved focus for decision making. The restructuring will also strengthen the Group's compliance with the Combined Code on Corporate Governance. The changes will take place with effect from 18 January 2010.

Three executive directors, Simon Hope, Robert McKellar and Rupert Sebag-Montefiore, will stand down from the Plc Board. All three will remain members of the Group's Executive Board (GEB) and there will be no changes in their day to day responsibilities. The GEB, Chaired by the Group Chief Executive, Jeremy Helsby, will continue to oversee the development and implementation of strategy and the operational performance of the Group allowing the Plc Board to focus its attention on setting the Group's strategic aims and approving the strategy to achieve these, monitoring performance and ensuring effective governance and risk management. 

Following the restructuring, the Board will comprise the non-executive Chairman, two executive directors and four independent non-executive directors, in full compliance with the Combined Code on Corporate Governance, as follows:

●	Peter Smith	-	Non-executive Chairman
●	Jeremy Helsby	-	Group Chief Executive Officer
●	Simon Shaw	-	Group Chief Financial Officer
●	Martin Angle	-	Non-executive director
●	Tim Ingram	-	Non-executive director (and Senior Independent Director)
●	Charles McVeigh	-	Non-executive director
●	Fields Wicker-Miurin	-	Non-executive director

In addition, Fields Wicker-Miurin, who joined the Board in 2002, will retire from the Board as a non-executive Director at the conclusion of the Company's 2010 AGM in May. Martin Angle, who has been a non-executive director of the Company since 2 January 2007, will replace Fields as Chairman of the Group's Audit Committee with effect from that date.

Commenting on the changes Peter Smith, Chairman, said:

"As we continue to grow, we must ensure we have the right structure to retain our entrepreneurial culture and at the same time manage effectively a large, broadly spread organisation. These structural changes will give improved focus to the activities of both the main Board and the Group Executive Board".

Notification of 2009 Results

As indicated in the Group's Trading Update on 17 December 2009, the year finished strongly both in Asia Pacific and the UK markets. The Group's results for the year to 31 December 2009 will be announced on 18 March 2010.

Appointment of Brokers

The Board announces that it has appointed UBS Investment Bank Limited and Numis Securities Limited as joint corporate brokers with immediate effect.

For further information, contact:

Savills 020 7409 8844

Jeremy Helsby, Group Chief Executive 

Simon Shaw, Group Chief Financial Officer

Tulchan Communications 020 7353 4200

John Sunnucks

UBS Investment Bank 0207 567 8000

Adrian Haxby, Managing Director,

Numis Securities 0207 260 1347

Christopher Wilkinson, Managing Director,

 

END

 

 

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