Record Regulatory News (REC)

LEI Number: 5493000VJ55ZTYGX4322

1 March 2023

RECORD PLC

BOARD CHANGES

Record plc ("Record" or the "Company"), the leading specialist currency and asset manager, today announces that Neil Record, who founded Record in 1983, was CEO until 2010 and has subsequently served as Non-Executive Chairman, will be retiring from his role and from the Board at the conclusion of the Company's AGM in July 2023.

After a thorough and transparent selection process in line with the Company's succession plans, the Board is delighted to announce the appointment of David Morrison as Non-Executive Director and Chair Elect, effective from 1 March 2023. David will be appointed as Chair following Neil's retirement.

David is currently Chairman of CPP Group and was a founding Partner of Palladian Investment Partners. His extensive career, initially in venture capital, has led to active involvement as a Director or Chairman of several private and public companies. David previously served as a Non-Executive Director of Record from 2009, including as Senior Independent Director from 2016 until 2018. His experience leading other Boards and his knowledge of Record make him the ideal candidate. Record has a strong and diverse Board and this transition will provide continuity of support to the Executive Team.

Neil Record, Chairman, commented:

"I have devoted almost my entire working life to building Record to the business it is today. Leaving it will be a huge challenge for me, but I remain very excited about the Company's future, and plan to remain a major shareholder. Over my 40-year career at Record, I have worked with many very talented colleagues whom I will miss, but I am delighted to welcome David as my successor. I have the highest confidence in David's ability and skills, and he brings a wealth of leadership and Chair experience. I know that he will provide the Board with strong and effective leadership.

"I have every confidence that my Board colleagues will continue the path of sustained growth and successfully implement our core strategic priorities of diversification and modernisation. David will be a great support to our CEO, Leslie Hill, who has been involved in the succession process and welcomes David's appointment."

David Morrison commented:

"It is a privilege to be appointed Chair-elect of Record and an honour to succeed Neil. I am excited to be joining Record at such an important time for the business. I am looking forward to working with Leslie, her Executive team and the Board to support the strategy and the growth of the business."

Krystyna Nowak, Chair of the Nomination Committee, commented:

"Following an extensive process, the Board is delighted to appoint David as Chair Elect. David possesses a vast knowledge of the business and expertise at leading and delivering strategic growth. On behalf of Record I welcome David to the Board."

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