Directorate Changes

Ricardo PLC

24 April 2017

RICARDO PLC

 DIRECTORATE CHANGES

Ricardo plc ("Ricardo") today announces the following changes to its board of directors:

·     Ian Lee is planning to stand down as Non-Executive Director and Chairman of the Audit Committee, following 9 years of service, at the end of the Annual General Meeting in November 2017

·     Ricardo is pleased to announce, following recommendation from the Nomination Committee, the appointment of Bill Spencer as a Non-Executive Director on 24 April 2017 and it is intended that he will succeed Ian Lee as Chairman of the Audit Committee with effect from the close of the Annual General Meeting in November 2017.

Bill is currently also a non-executive director and Senior Independent Director of Exova Group plc, where he chairs the audit committee. He is also the Senior Independent non-executive Director at Northgate plc and chairman of the audit and risk committee. He is also a non-executive member of the Finance Committee of the Royal Institution of Charter Surveyors. Bill was previously a non-executive director and audit committee chairman of UK Mail Group plc.

A significant part of Bill's executive career was spent at Intertek Group plc, where he was the Chief Financial Officer for 14 years.  Prior to that he held a number of senior financial appointments with Inchcape plc, Olivetti UK Limited, Rexam plc and Centrica plc. 

Bill has a BSc from the University of Manchester, is a member of the Association of Corporate Treasurers and has been a member of the Chartered Institute of Management Accountants since 1986.

Sir Terry Morgan CBE, Chairman of Ricardo, said:

"I am delighted to welcome Bill to the board of Ricardo.  He brings a wide range of experience which includes being CFO of a FTSE 100 company and, as a non-executive director, has served as Audit Chair.  I am confident that Bill's experience will be of great benefit to Ricardo."

Information Notified Pursuant to Listing Rule  9.6.13

Bill Spencer holds or has held, the following directorships of publicly quoted companies in the previous five years:

Northgate plc  (June 2016)

Exova Group plc (May 2011)

UK Mail Group plc (Nov 2011 - Dec 2016)

Contact            Patricia Ryan   Company Secretary

Telephone:      01273 794776