Saga Regulatory News (SAGA)

Saga plc

 Directorate change

Saga plc ("Saga" or "the Group"), the UK's specialist in products and services for life after 50, announces that Lance Batchelor, Group Chief Executive Officer, will retire at the end of the current financial year in January 2020, after six years with the business. A process has started to recruit his successor.

Patrick O'Sullivan, Chairman of Saga, said:

"Lance has led Saga with a resolute focus on reinvestment and rebuilding a truly customer centric organisation. On behalf of the Board, we are grateful for his contribution and wish him every success for the future.

In April, we announced the introduction of 'three-year fixed price' Home and Motor Insurance products and on 5th July we will launch our new Cruise ship, the Spirit of Discovery.  Early progress in Insurance Broking is encouraging and we will provide a more detailed update at the AGM next week. These developments demonstrate that Saga is a strong business with an attractive future."

Lance Batchelor, Group Chief Executive Officer, said:

"It has been a huge privilege to lead Saga. I am very proud of the journey we have taken to modernise the business and refocus it on customers. We now have enhanced products and the infrastructure needed for a sustainable and healthy future. Over the coming months, I look forward to continuing to execute the new strategy in our insurance business and seeing the launch of Spirit of Discovery in a few weeks."

Contacts:

Saga plc

Mark Watkins, Director of Investor Relations Tel: 07738 777 479

MHP Communications

Tim Rowntree/Alistair de Kare-Silver Tel: 020 3128 8742