Saga Regulatory News (SAGA)

11 December 2019

Saga plc

("Saga" or "the Group")

Directorate change

Euan Sutherland appointed as Saga Group CEO

Saga, the UK's specialist in products and services for people aged 50 and over, is pleased to announce the appointment of Euan Sutherland as Group Chief Executive Officer with effect from 6 January 2020. As announced earlier this year, Lance Batchelor is retiring and will continue as a statutory Director until he leaves the business on 31 January 2020.

Euan has substantial experience having led major consumer-facing businesses, including financial services, through periods of change, both in the UK and internationally. Most recently he was the CEO of Superdry plc, the global digital brand, for five years. In that time Euan led a strategy focused on customer insight, innovation and digital, international and wholesale expansion.

Prior to this Euan was the Group CEO of The Co-op Group, the mutual retailer, insurance and funeral services business where he led a significant transformation programme resulting in a more efficient and profitable business. Before that, he was Group COO & CEO UK at Kingfisher plc, and also has a background in global FMCG brands having worked at Mars and Coca-Cola earlier in his career. He is a non-executive director of Britvic plc.

Patrick O'Sullivan, Chairman, said

"I am very pleased that Euan is joining Saga at this important time in the development of the business. He has substantial experience across several consumer-facing businesses that will be invaluable as we continue the Saga transformation, with our customers at the heart of our strategy. 

"Alongside the recent appointments of Cheryl Agius as CEO of Insurance and Gilles Normand as COO, the Board has every confidence in the team now in place to lead and accelerate Saga's turnaround strategy. On behalf of the Board I would like to thank Lance for focusing on reinvestment over the last six years and for launching our membership scheme, Saga Possibilities, and wish him well for the future."

Euan Sutherland said

"I am hugely excited to join Saga. This is a unique British brand that has a strong heritage, great people and significant potential. I look forward to working with the Board and the whole of the Saga team to further unlock this potential and deliver for our customers and shareholders."

Euan does not currently have any interest in shares in Saga. There is no further information which would require disclosure under 9.6.13R of the Listing Rules of the UK Listing Authority.

ENDS

For further information please contact:

Saga plc

Mark Watkins, Investor Relations Director Tel: 07738 777 479

Email: mark.watkins@saga.co.uk

MHP Communications

Tim Rowntree/Simon Hockridge Tel: 020 3128 8742/8572

Email: saga@mhpc.com

Notes to editors

About Saga

Saga is a specialist in the provision of products and services for life after 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