Board Changes

Board Changes

20 February 2018

Majestic Wine PLC announces today that Anita Balchandani, Independent Non-Executive Director and Chair of the Remuneration Committee, has informed the Company that, as a consequence of her joining McKinsey & Company as a full-time Partner, she is required to step down from her appointment with the Company and will do so after the Board meeting on March 14 2018.

Since joining the Company in June 2015, Anita has provided valuable insight to support shaping the strategy for the business as well as development of the Company's remuneration structure and share incentive schemes. The Board wishes to thank Anita for the dedication, passion and enthusiasm she has given the Company over her tenure and wishes her every success in her new role. Ian Harding, Senior Independent Director and Chair of the Audit Committee, will be replacing Anita Balchandani as Chair of the Remuneration Committee with immediate effect. Following the approval and release of the Company's full year results in June 2019 Ian will hand over the role of Chair of the Audit Committee to David Stead who joined the Board in November 2017 as an independent Non-Executive Director.

About the Directors

Ian Harding joined the Board as an independent Non-Executive Director on 1 June 2013 and has been Chair of the Audit Committee and a member of the Remuneration Committee and Nomination Committee since that date. He became Senior Independent Director on 15 June 2017. He is a chartered accountant and spent 16 years in various finance and auditing roles at PwC, Superdrug PLC and Kingfisher PLC. In 2001 he became Kingfisher's Investor Relations Director and went on to hold several senior roles on the executive committee including Communications Director and latterly Special Advisor to the Board.

David Stead joined the Board as an Independent Non-Executive Director on 1 November 2017 and is a member of the Company's Audit, Nomination and Remuneration Committees. David is currently Non-Executive Director and Chair of the Audit Committee of Card Factory plc and Joules Group plc. He is also a member of the Council at the University of Birmingham. David was Chief Financial Officer of Dunelm Group plc from September 2003 until his retirement in 2015. Prior to this, David was Finance Director for Boots The Chemists Ltd and Boots Healthcare International between 1991 and 2003. David is a chartered accountant, having spent the early part of his career with KPMG.

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