Hargreaves Lansdown Regulatory News (HL.)

HARGREAVES LANSDOWN PLC (HL): CHAIR SUCCESSION

29 November 2023

The Board of HL is pleased to announce the appointment of Alison Platt to the role of Chair of the Board and as a Non-Executive Director of HL, subject to customary regulatory approvals.

Alison will succeed Deanna Oppenheimer, who will be stepping down from her role as Chair of the Board and a Director of HL at HL's Annual General Meeting (AGM) on 8 December 2023. She will have served as Chair for six years.

Alison is currently Chair of Dechra Pharmaceuticals plc (Dechra), a specialist veterinary products business which is currently going through an acquisition by EQT. She is also a Non-Executive Director of Tesco plc and the Chair of general insurer, Ageas UK. Alison will join HL's Board in early 2024.

Alison was Chair of L&G Financial Advice from 2019 to 2022 and CEO of Countrywide from 2014 to 2018. Prior to that she held several senior roles at BUPA, both in the UK and Internationally.

Following the AGM, during the period to Alison's regulatory approval as new permanent Chair, the Board has confirmed the appointment of Penny James as Interim Chair. She is currently the Senior Independent Director (SID).

Penny will be replaced in this position by Andrea Blance as SID. These appointments are effective from 8 December 2023 and on the appointment of the new permanent Chair, each will revert to their prior Board position. Penny James will chair the HL 2023 AGM.

Having remained on the Board to support with the Chair selection process, Roger Perkin has informed the Board that he will also not be standing for re-election at the AGM and will be stepping down from the HL plc Board on 8 December 2023. Roger has also served on the Board for six years, including as Chair of the Board Audit Committee.

As the Company's Notice of the AGM 2023 (the Notice) has already been issued, the Company confirms that the resolution to re-elect Deanna Oppenheimer as a Director of the Company (Resolution 7 of the Notice) is now withdrawn. The resolution to re-elect Roger Perkin as a Director of the Company (Resolution 10 of the Notice) is now withdrawn. The withdrawal of Resolution 7 and Resolution 10 does not otherwise affect the validity of the Notice, the proxy form or any proxy votes already submitted on other resolutions. The numbering of all other proposed resolutions at the Annual General Meeting will remain unchanged. Any votes already cast in relation to Resolution 7 and Resolution 10 are of no effect. 

Alison Platt said: 

"I am delighted to be joining the HL Board and excited by the opportunity to work with Dan and the team as HL continues its critical work in supporting clients to make savings and investment decisions with confidence. I look forward to working closely with my new Board colleagues to guide HL's next phase of growth."

Deanna Oppenheimer, Non-Executive Chair, HL plc, said: 

"I'm honoured to have overseen the Board during a period of significant change for the industry and for HL. HL is in a strong position for growth and has skilled leadership which will ensure the company's future success. Over the last six years our client numbers have doubled to 1.8 million and our share of the direct-to-consumer market has grown significantly from 35% to 42%.

"I'm delighted to hand over to Alison, whose broad and relevant experience across different sectors will be of great benefit and support to the HL team as they move forward. I would also like to thank Roger for his service and dedication to HL and for staying on over these last few months to support the Chair selection process."

Dan Olley, Chief Executive Officer said: 

"I would like to thank Deanna for her guidance and stewardship during her tenure as Chair. I look forward to working with Alison who brings a wealth of experience to the Board."

Alison's appointment follows a comprehensive recruitment process supported by an external executive search firm. She will join and chair the Nomination & Governance Committee of the HL plc Board upon her appointment as Non-Executive Director, subject to regulatory approval.

Other than the directorships disclosed above, there are no matters required by paragraphs LR 9.6.13R (1) to (6) of the listing rules to be disclosed.

BIOGRAPHY

Alison Platt

Alison has extensive leadership experience across both private and listed companies in the healthcare, financial services, retail and property, and regulated sectors. She currently holds Chair positions at Dechra Pharmaceuticals, a FTSE100 specialist veterinary products business, and insurance company Ageas UK. She has also been a Non-Executive Director of Tesco Plc since 2016.

Alison was CEO of Countrywide from 2014 - 2018 and prior to that she held several senior roles at BUPA, including as Managing Director of its International Development Markets business. She was previously a Non-executive director of the Foreign and Commonwealth Office, a member of Hampton-Alexander review steering group advising on diversity and inclusion and Chair of Opportunity Now.