SSE PLC

Board/Management Information • Mar 18, 2015

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RNS Number : 7079H

SSE PLC

18 March 2015

APPOINTMENT OF CHAIRMAN FROM 23 JULY 2015

Lord Smith of Kelvin, Chairman of SSE plc, has decided to bring forward his previously-announced intention to step down from the post and from the Board to the end of the Company's Annual General Meeting on 23 July 2015.  This is earlier than planned and follows the announcement that he will be appointed Chairman of another major UK-listed company, IMI plc. 

Richard Gillingwater CBE, currently Deputy Chairman, will take up his previously-announced appointment as Chairman of SSE plc on completion of the AGM, subject to being re-elected to the Board at the Meeting. 

SSE expects to appoint a new non-Executive Director and appoint a Senior Independent Director in the next few months.

Richard joined the Board of SSE plc as a non-Executive Director in 2007 and became Senior Independent Director in 2012.  Following an appointment process led by independent non-Executive Director Katie Bickerstaffe, it was announced in November 2014 that he would become, first, Deputy Chairman and, subsequently, Chairman. 

Other appointments held by Richard include Chairman at Henderson Group plc. Earlier this month it was confirmed he would not be seeking re-election to the Boards of Hiscox Ltd and Morrisons plc at their AGMs in May and June respectively.

Robert joined the Board of SSE plc as a non-Executive Director in 2003 and became Chairman in 2005. Although he will no longer be a member of the Board, he will be retained by SSE's Executive Committee for a further year to provide advice and counsel on key business issues relating to Scotland.

Robert said:

"The period of transition that began with Richard's appointment as Deputy Chairman at the start of the year is already going very well and bringing forward the handover to the AGM makes sense from everyone's point of view.  Over the coming months we will continue to work together on the key operational, market and financial issues facing SSE.  We are on course for a seamless transition and I am certain that Richard will be an excellent Chairman of SSE.  I am also delighted that I will continue to be connected with the company for a further year."

Richard said:

"Robert has been an outstanding Chairman for SSE and a pleasure to work with and the Executive Committee will value the opportunity to be able to call on his advice and counsel on Scottish issues for a further year.  I will spend the next few months completing the preparations for taking on the job as Chairman and I am committed to doing all I can to ensure that SSE continues to be a successful company, for the benefit of investors and customers alike."

This information is provided by RNS

The company news service from the London Stock Exchange

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