Interserve Regulatory News (IRV)

16 Dec 2008 07:03

BOARD/PDMR SUCCESSION

Interserve, the services, maintenance and building group, today announces planned succession changes due to take effect in 2009 and the appointment of a new non-executive director.

Board/PDMR Succession

After 15 years of service with the Group and almost seven years as a director, John Vyse has decided to retire on 3 April 2009, on the occasion of his 61st birthday. John has been responsible for the Project Services Division both in the UK and Internationally since 2002 and has led the division through a period of unparalleled development and profitable growth.

Nick Keegan, who joined the board as a non-executive director in July 2003, has decided to stand down at the next Annual General Meeting in May 2009 on completion of his second three-year term. Nick served as chairman of the audit committee from 2005-2007 and has variously been a member of the audit, remuneration and nomination committees.

The board wishes to thank both John and Nick for their enormous contributions to the Group's development and wishes them well for the future.

David Paterson will succeed John Vyse in his responsibility for the Project Services division and will join the Executive Committee, reporting to Chief Executive Adrian Ringrose, on 1 January 2009. David has been Managing Director of the UK Project Services business since 2005 and has been with the Group some 14 years.

Board Appointment

The Board is pleased to announce the appointment of David Thorpe as a non-executive director, with effect from 1 January 2009. David's executive career included leadership roles for Bull Information Systems and for Electronic Data Systems (EDS) in the UK and internationally. Since 2003 he has held a number of non-executive roles, including VT Group plc, the Innovation Group plc, Anite plc and chairmanships of Tunstall Holdings Ltd, the Racecourse Association and of Clinical Solutions Ltd. David's wide experience covering the outsourcing sector across government and international markets will make a valuable contribution to the continuing strategic development of the Group.

Following completion of the above changes, the board will comprise the Chairman, four non-executive and four executive directors.

As previously announced, Interserve expects to provide a year-end trading update on Wednesday 14th January.

-Ends-

For further information please contact:

Giles Scott 0118 960 2307

Head of Corporate Communications

Elizabeth Morley / Tom Roberts 020 7379 5151MaitlandAbout Interserve

Interserve Plc (www.interserve.com) is a services, maintenance and building group operating in the public and private sectors in the UK and internationally. It offers advice, design, construction and maintenance services for buildings and infrastructure, runs the operational systems and back-office services that support them and provides a range of plant and equipment in specialist fields. Interserve is based in the UK and is a FTSE 250 company. It has revenue of ‚£1.7 billion and a workforce of 50,000 people worldwide.