Saga Regulatory News (SAGA)

5 July 2022

Saga plc

Saga strengthens leadership to support growth strategy

Two non-executive directors appointed, with Sir Peter Bazalgette joining as Senior Independent Non-Executive Director

New executives to lead Personal Finance, Media and Data

Saga, the UK's specialist in products and services for people over 50, today announces five senior appointments as it reshapes its leadership to support delivery of the strategy to accelerate growth and position Saga as the superbrand for older people in the UK.

The Board of Saga has appointed two new non-executive directors to widen the skill set as the business is reshaped towards a greater focus on marketing, content and distribution.

Sir Peter Bazalgette, currently Chair of ITV plc and LoveCrafts and a non-executive director of Edge Performance VCT plc, will join the Board and become the Senior Independent Non-Executive Director (SID). Sir Peter, the Co-Chair of the Creative Industries Council, brings a wealth of experience from the media and wider creative industries, including with Endemol, the BBC, YouGov and Channel Four. Sir Peter will Chair the Nomination Committee.

Gemma Godfrey, a founder of two digital businesses and a Non-Executive Director of Oberon Investments Group plc and Vivopower International plc, will join the Board as a Non-Executive Director. Gemma, who was a boardroom adviser to Arnold Schwarzenegger on The Apprentice USA and is a business and money expert on ITV's Good Morning Britain and Sky News, will also chair the separate Saga Personal Finance Limited Board, subject to the necessary regulatory approval.

Both will join the Board on 1 September 2022, following which Saga will review the membership of Board committees. Orna NiChionna, the current SID, who has served on the Saga Board since May 2014, will step down from the Board on 30 September 2022. Her roles as Senior Independent Non-Executive Director and Chair of the Nomination Committee will move to Sir Peter at that time.

Saga is also making three appointments to further strengthen the Executive leadership team, with new roles to drive the areas of Personal Finance, Media and Data.

Jerry Toher, currently Chief Customer Officer at Royal London, the mutual insurer, will become CEO of Saga Personal Finance. Jerry will be pivotal in delivering Saga's planned acceleration of its Personal Finance business, focused on attracting new customers and driving growth through new and existing products. Jerry, who has previously worked at businesses including Homeserve, Royal Bank of Scotland and Egg, will join Saga on 1 September 2022.

Aaron Asadi will join Saga as CEO of Saga Media, to lead Saga's media and content strategy, designed to increase the frequency and depth of Saga's interaction with customers. Aaron has held a variety of roles in publishing, including Chief Audience and Ecommerce Officer and Chief Content Officer at Future plc, the global media company. He will join Saga on 1 September 2022.

Separately, Saga has appointed a Chief Data Officer, focused on bringing to life and enhancing the way it uses customer insight to drive commercial value. This individual, who currently leads the data functions at a major consumer-facing business, will join Saga in the autumn, with further details to be announced nearer the time.

Sir Roger De Haan, Non-Executive Chairman of Saga, said:

"Saga has made good progress over the last two and a half years under the leadership of Euan Sutherland and the wider executive team, strengthening the business in the face of challenging headwinds. As we look at the next phase of growth and our determination to leverage marketing, content and distribution in the delivery of our growth strategy, I am delighted to welcome two new Board directors and three new members of the executive team. Between them, they bring valuable new skills to Saga's leadership and I look forward to working with them all. On behalf of the Board, I would like to thank Orna for her contribution to Saga over the past eight years."

Euan Sutherland, Chief Executive Officer of Saga, said:

"Saga is a great business with a strong brand, loyal customers and fantastic people. Over the past two years, we have stabilised the business and are now moving to focus on growth, based on our successful brand relaunch. Everything we do is rooted in our determination to deliver exceptional experiences every day for all our customers and create the superbrand for older people. These appointments, covering Personal Finance, Media and Data, will allow us to step-change our ability to scale this business and are core to our plan to deliver long-term sustainable growth in the interests of all stakeholders."

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Notes to editors:

Saga is a specialist in the provision of products and services for people over 50. The Saga brand is one of the most recognised and trusted brands in the UK and is known for its high level of customer service and its high quality, award-winning products and services including cruises and holidays, insurance, personal finance and publishing. www.saga.co.uk

With regard to the appointment of the Non-Executive Directors, there is no further information which would require disclosure under 9.6.13 of the Listing Rules of the UK Listing Authority.