Quindell Portfolio appoints Robert Bright and Robert Cooling as Non-Executive Directors, and names Tony Bowers as Non-Executive Vice-Chairman

– UK – Quindell Portfolio Plc (AIM: QPP.L), the provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets, being Insurance, Telecommunications and their related sectors is pleased to announce the appointment of Robert Bright and Vice Admiral Robert (Bob) Cooling as independent non-executive Directors of the Company following the retirement of non-executive director of Jason Cale. Tony Bowers, currently senior independent non-executive director is also appointed as Vice-Chairman of the Group.

These developments to the Board’s structure are in preparation for the Group’s proposed full listing, and are expected to be followed up as part of our full listing process with further announcements regarding new appointments for additional independent non-executive directors.

Appointment of Robert Bright as Independent Non Executive Director

Robert Bright, aged 63, has over 35 years of managerial experience within the insurance industry, including over 25 years as part of the HSBC senior management team. During this time, Robert was a main board director of HSBC Insurance Brokers Limited responsible for HSBC Select (UK) Ltd (“HSBC Select”). In 2003 Robert successfully negotiated a management buy out of HSBC Select, subsequently known as The OutRight Company (UK) Ltd. and developed and delivered a successful white label business strategy, producing £100 million premium throughout by the end of 2005. HSBC Select was also complimented by the FSA on being the best operation in its sector during 2005. In 2005 Robert structured the sale of The OutRight Company to Fortis Group (now Ageas), at a substantial premium, at which point he became Non Executive Director on the board of responsible for RIAS plc and a range of its products. Robert has continued this role with Ageas UK Limited and is on the main UK board as Non Executive Director responsible for retail operations, which includes KwikFit Insurance.

Appointment of Vice Admiral Robert Cooling CB as Independent Non Executive Director

Vice Admiral Robert Cooling CB, aged 56, has completed a distinguished career spanning 33 years in the Royal Navy, during which he commanded four ships with his most recent posting being that of Chief Operating Officer for NATO’s strategic level command, based in the USA, where he led an internationally acclaimed change management and transformation programme. In this capacity, he was directly responsible for 110 million euro operating budget and a multi-national civilian and military staff of 1,200, spread over two continents and 28 nations.

Appointment of Tony Bowers as Independent Non Executive Vice Chairman

Tony Bowers, who has been the Group’s senior independent non-executive director since his appointment to the Board in May 2011 is appointed to the newly created role of Vice Chairman. Tony has recently met with a number of the companies largest shareholders to fully understand their level of support for the companies growth strategy. Tony is a Fellow of the Institute of Chartered Accountants in England and Wales and a Member of the Chartered Institute of Taxation. He is also a past-President of the Southern Society of Chartered Accountants in England and Wales. Tony was a Partner with Deloitte for 23 years until his retirement in November 2008, where he specialised in dealing with companies, shareholders and directors on a number of aspects of business and taxation.

Retirement of Jason Cale as Non Executive Director

Jason Cale, who has to date been instrumental as part of the Board in achieving the Group’s successful acquisition strategy since the Company’s acquisition of Quindell Limited in 2011, is retiring from the Board with immediate effect as the board is now focussing on its organic growth strategy with mainly infill acquisitions.

Rob Terry, Founder and Executive Chairman of Quindell said: “The changes announced today continue to reflect our commitment to the development of the Group’s Board, that meets with leading practice corporate governance guidance for a group such as ours. We are delighted that Robert and Bob have agreed to join the Board having both been members of our Strategy Integration and Advisory Board since 2012.

At the same time, we thank Jason Cale for his contribution to the Group’s success to date. The Group has grown significantly in the last two years and these changes reflect this, with the appointment of two new independent non-executive directors who between them have significant experience, particularly in the international insurance sector and the management and development of large people-based organisations.

I am also personally delighted that Tony is broadening his role as senior independent non-executive director to that of Vice Chairman after his recent meetings with a number of our largest shareholders. Tony’s experience, challenge and input is much valued and in this new role, he will undoubtedly be able to provide further contribution to the Group’s overall leadership and governance.”

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