24 October 2017

Saga plc

Saga Chairman announces intention to retire and board launches search for successor

After 26 years with the business, 14 of which as Chairman, Andrew Goodsell has notified the Board of Saga plc that he intends to retire from the company during 2018. The Senior Independent Director, Orna NiChionna, will initiate a process to appoint his successor as Chairman with immediate effect.  Once a candidate is identified, it is envisaged that there will be an appropriate period of handover, which Andrew has indicated he would ideally like to complete by the end of May 2018.

Andrew joined Saga in 1992 and became Group Chief Executive and Chairman in 2004 and Non-Executive Chairman in 2015, having transitioned executive responsibilities to Lance Batchelor.  He has overseen a period of very fast growth and change and the successful flotation of Saga on the London Stock Exchange in 2014.

Andrew Goodsell, Chairman, said: "I have enjoyed my time at Saga immensely and am extremely proud of what we have achieved as a company. I have decided to step down as Chairman four years after flotation in the knowledge that Saga has a very strong management team and Board which will take the business forward."

Lance Batchelor, Group Chief Executive, said: "Andrew has played a key role in Saga for many years. I would like to thank him personally for his invaluable support and counsel since I joined the company in 2014."

Orna NiChionna, Senior Independent Director, said: "Andrew has made a very significant contribution to Saga. The Board offers him its thanks and looks forward to continuing to work with him in the coming months."

END

Saga plc

Mark Watkins, Investor Relations Director                           Tel: 07738 777 479

                                                                                            Email: mark.watkins@saga.co.uk

MHP

Tim Rowntree/Simon Hockridge/Reg Hoare                        Tel: 020 3128 8100

         Email: saga@mhpc.com 

Notes to editors

Saga is a specialist in the provision of products and services for life after 50. The Saga brand is one of the most recognised and trusted brands in the UK and is known for its high level of customer service and its high quality, award winning products and services including cruises and holidays, insurance, personal finance and publishing. saga.co.uk