Paragon Banking Group PLC

Board/Management Information • Feb 2, 2018

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RNS Number : 7703D

Paragon Banking Group PLC

02 February 2018

PARAGON BANKING GROUP PLC

Directorate Change

Paragon Banking Group PLC ("Paragon") announces today that its Chairman, Bob Dench, will be stepping down from the Board after 14 years to take up a new position as Chairman of The Co-operative Bank p.l.c. 

Paragon has well developed succession plans and a search for his replacement, both internally and externally, is already underway. 

Bob Dench will join The Co-operative Bank as its Chairman on 14 March 2018 and will remain as Chairman of Paragon until his successor has been appointed.

A further announcement will be made when appropriate.

Bob Dench said: "It has been a great joy and a privilege to have been at Paragon for the last 14 years, 11 of which have been as Chairman. The transitioning of the business into a banking group last year was a major milestone. It came after many years of real focus and hard work by a very talented group of individuals, all of whom recognise the importance of working as a team."

Nigel Terrington, Chief Executive, said: "On behalf of the Board, I thank Bob for his commitment to Paragon and for his ability to chair the Board in a collegiate, but challenging way.  He has been a supportive Chairman to the management team and his wealth of banking experience has been invaluable throughout his tenure, particularly during the diversification of our funding and assets in our transition to becoming a specialist bank.

On a personal note, I have thoroughly enjoyed working with Bob and appreciate the support he has given me.  I, and my colleagues at Paragon, will miss Bob and we wish him well in his new role."

For further information, contact:

Paragon Banking Group PLC

Nigel Terrington, Chief Executive, 0207 786 8455

Deborah Bateman, External Relations Director, 0121 712 2505

Headland Consultancy

Lucy Legh, 020 3805 4810

Del Jones, 020 3508 4860

This information is provided by RNS

The company news service from the London Stock Exchange

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