Direct Line Insurance Group PLC

Board/Management Information • Feb 16, 2016

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RNS Number : 2312P

Direct Line Insurance Group PLC

16 February 2016

Direct Line Insurance Group plc

Directorate changes

16 February 2016

Direct Line Insurance Group plc ("Direct Line Group" and/or the "Group") today announces that Priscilla Vacassin, Non-Executive Director, has decided to retire from the Board and will step down on 1 March 2016. Ms Vacassin joined the Direct Line Group Board, and was appointed Chair of its Remuneration Committee, in September 2012. She has been a key contributor, as a member of the Board, Chair of the Remuneration Committee and also as a member of the Nomination and Board Risk Committees, to Direct Line Group's successful flotation and progression into the FTSE 100, contributing her expertise and experience as a former Human Resources Director in a number of large, international groups of companies. Over the last three years, she has also successfully grown her search and consultancy business, which now requires a considerably greater time commitment. Having indicated in the summer of 2015 her desire to leave the Board when circumstances permitted, Ms Vacassin agreed to stay while the search for the new Senior Independent Director was completed and, as Chair of the Remuneration Committee, to oversee the completion of executive remuneration arrangements for 2015 and the establishment of targets for 2016.

Clare Thompson, Non-Executive Director, has agreed to act as interim Chair of the Remuneration Committee with effect from 1 March 2016. At the same time, she will step down as Chair of the Corporate Social Responsibility ("CSR") Committee and as a member of the Investment and Board Risk Committees. She will remain a member of the Audit Committee. With effect from 1 March 2016, Andrew Palmer will be appointed as Chair of the Investment Committee and Sebastian James will be appointed as Chair of the CSR Committee.

In addition, Richard Ward, Senior Independent Director, will be appointed as a member of the Direct Line Group Nomination Committee with effect from 25 February 2016.

Mike Biggs, Chairman of Direct Line Group, said: "Priscilla has made a crucial contribution to the Direct Line Group Board, helping us to steer the Group through its flotation in 2012 and its preparations for Solvency II and, in particular, exercising effective stewardship of the Group's executive remuneration arrangements. I would like to thank Priscilla for her extraordinary diligence, for the invaluable advice that she has given both to the Board and to the senior management team at Direct Line Group. My fellow Directors and I wish her every success for the future."

-ENDS-

For further information please contact:
Roger Clifton
Company Secretary
Tel: +44 (0)1651 832340

For investor and media enquiries please contact:
Neil Manser
Director of Corporate Strategy and Investor Relations
Tel: +44 (0)1651 832183
Jennifer Thomas
Head of Financial Communications
Tel: +44 (0)1651 831686

Section 430(2B) Companies Act 2006 Statement

The following information is provided in accordance with section 430(2B) of the Companies Act 2006:

Direct Line Group confirms that Priscilla Vacassin will continue to receive fees for her role on the Direct Line Group Board and its Committees up to and including 1 March 2016 at the rates set out in the Company's 2014 Annual Report & Accounts. She will not receive any payment in lieu of notice or for loss of office. As a Non-Executive Director, Priscilla Vacassin is not entitled to participate in the Group's employee share plans or bonus and pension arrangements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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