Quindell announces Richard Rose to its Board as upcoming Non-Executive Chairman

– UK – Quindell Plc (AIM: QPP.L) announces that, subject to Solicitors Regulation Authority approval and completion of appointment formalities, Richard Rose will join the Board as non-executive Chairman and Jim Sutcliffe will join as Strategy Director and Deputy Chairman.

Pending such regulatory approval regarding their appointment to the Board, both Richard Rose and Jim Sutcliffe will be employed by the Group to build upon the progress already made and to assist the Board, inter alia, in the development of the Group’s accounting policies (in conjunction with PwC and the Company’s auditors, KPMG),the formulation of the Group’s future strategy, and the delivery of the optimal capital structure for the Group. 

Upon Richard Rose’s appointment to the Board, David Currie will step down from his position as interim non-executive Chairman and his role will revert to non-executive director.

To supplement the work of Richard Rose and Jim Sutcliffe, the Board has today entered into an agreement to receive consultancy services from BaxterBruce Limited (“BaxterBruce”), a consultancy firm of which Jim Sutcliffe is a Director. In addition to Jim Sutcliffe and Richard Rose, BaxterBruce will utilise its associates Marisa Cassoni and John Tomlins for this engagement with the Company.

Commenting on the appointments, David Currie, interim non-Executive Chairman, said: “I am pleased that such a high calibre group of professionals will be helping the Board at this time and that Richard and Jim are expected to join the Board in due course.  Richard, Jim, Marisa and John have extensive public company, accounting and sector knowledge and I look forward to working with them and the existing management in completing the Independent Review, acting on its conclusions and in formulating our Group strategy.”

Robert Fielding, Group Chief Executive, said: “We welcome Richard and Jim to the team; both bring a wealth of experience which will assist the business as we move in to our next phase of development.”

About Richard Rose

Richard Rose has extensive public company experience and is currently Chairman of AO World plc, Crawshaw Group plc, Booker Group plc and Anpario Group plc. Richard’s previous roles include that of Executive Chairman of Helphire plc, the listed credit hire and legal services / injury claims business (now Redde plc).

About Jim Sutcliffe

Jim Sutcliffe has considerable experience in the financial and professional services sector.  He is currently Chairman of Sun Life Financial, Canada, Senior Independent Director of Lonmin plc and a non-executive director of Liberty Holdings, South Africa. He is also a non-executive director and Chairman, Codes and Standards Committee of Financial Reporting Council. Previously, Jim has held the position of Chief Executive Officer of Old Mutual PLC and Chief Executive Officer of Prudential UK. 

About Marisa Cassoni

Marisa Cassoni is an experienced Finance Director and currently non-executive director of The People’s Operator plc, GFI Group Inc, Skipton Building Society and AO World plc. Previously Marisa was the Finance Director of the John Lewis Partnership and prior to that was the Group Finance Director of Royal Mail plc. 

About John Tomlins

John Tomlins has spent his entire career working in the IT and financial services sectors, is chairman of a large provider of Wealth Management systems and administration and is a non-executive director of A J Bell Holdings Limited.

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