Direct Line Insurance Group PLC CEO to step down in the summer of 2019 (3915W)
August 01 2018 - 2:01AM
UK Regulatory
TIDMDLG
RNS Number : 3915W
Direct Line Insurance Group PLC
01 August 2018
Direct Line Insurance Group plc
1 August 2018
The Board of Direct Line Insurance Group plc ("Direct Line
Group") announces that Paul Geddes will step down as Chief
Executive Officer in the summer of 2019, at which point he will
have served in the role for 10 years.
Mike Biggs, Chairman, commented: "Paul has made a huge
contribution to Direct Line Group and the Company is deeply
indebted to him for his strong leadership. During his tenure Paul
has been leading the management team which very successfully
separated the business from The Royal Bank of Scotland Group,
floated it on the London Stock Exchange and turned it into a
successful FTSE100 company. We have a well-developed succession
process which we will now deploy with the objective of ensuring
that we have an excellent successor in place by the time Paul
leaves next year."
Paul Geddes, Chief Executive Officer, commented: "I have been
privileged to lead Direct Line Group over a long period of
transformation. It has been very exciting, and the company is in
great shape to make further progress. I am grateful to the Board
for their support and encouragement, and to the people of Direct
Line Group who are as talented and diligent as any you could hope
to work with. As I approach my tenth anniversary, it is right to
put a successor in place to lead the company in the years ahead. In
the meantime, we have a very busy and exciting agenda, which I look
forward to delivering."
-ENDS-
For investor and media enquiries please contact:
Andy Broadfield
Director of Investor Relations
Tel: +44 (0) 1651 831 022
Lisa Tremble
Head of External Affairs
Tel: +44 (0)1651 834 211
LEI: 213800FF2R23ALJQOP04
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END
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