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9 Sep 2009 09:45
9 September 2009
Quintain Estates & Development plc
("Quintain" / "Company" / "Group")
QUINTAIN APPOINTS WILLIAM RUCKER AS NON-EXECUTIVE CHAIRMAN DESIGNATE
The Board of Quintain is pleased to announce the appointment of William Rucker as Non-Executive Chairman Designate of the Group. John Plender, who will step down after two and a half years as Chairman of the Company with effect from 1 October 2009, will remain a Non-Executive Director until 31 March 2010, at which point he will have served almost eight years on the Board of Quintain.
William Rucker (46) is the Chief Executive Officer of Lazard London, Deputy Chief Executive Officer of European Investment Banking and a Deputy Chairman of Lazard Ltd, one of the world's pre-eminent financial advisory and asset management firms.
John Plender, Quintain's Chairman, commented:
"Quintain has made substantial progress in restructuring the business and its finances to position it to preserve and enhance the considerable future value embedded within the Company. I had originally intended to serve as Chairman for three years, but the availability of such an outstanding successor accelerated the succession planning. William will bring exceptional financial expertise to the Board as well as a long-standing knowledge and understanding of the business."
William Rucker said:
"I am delighted to be taking the chair at such an innovative and entrepreneurial company. Quintain has a strong track record of operational outperformance in its sector and has demonstrated a rigorous commitment to the protection of shareholders' interests throughout the most difficult of markets.
"This is an exciting time for Quintain and I am pleased that we will continue to benefit from John's wide experience of investment and corporate governance matters through his ongoing involvement as a non-executive director. I look forward very much to working with my colleagues on the Board and the executive team as we continue to pursue management initiatives that will enhance the Company's position still further and ensure that Quintain is best placed to maximise the many opportunities presented by the markets' recovery."
For further information, please contact:
Quintain Estates & Development plc
Rebecca Worthington / Cressida Curtis
Tel: +44 (0) 20 7495 8968
Financial Dynamics
Stephanie Highett / Dido Laurimore / Laurence Jones
Tel: +44 (0) 20 7831 3113
Additional information
William Rucker (46) is Chief Executive of Lazard London. He is also Deputy Chief Executive of European Investment Banking and a Deputy Chairman of the worldwide firm.
Mr Rucker joined the firm in 1987 from Arthur Andersen, where he qualified as a chartered accountant. In 2000 he was appointed deputy CEO of Lazard London and became a member of the firm's Executive Committee. He was appointed CEO of Lazard London in June 2004 and Deputy CEO of Lazard's European Investment Banking business in 2006. Lazard has acted as an adviser to Quintain for a number of years.
Mr Rucker is also a Non-Executive Director of Rentokil Initial plc.
No further information is required to be disclosed pursuant to Listing Rule 9.6.13R.
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