| Tue 30 Sep 2008, 14:45 | | LBT - Liberty International Plc Announces The Following Board And Board |
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LBT
LILII
LBT - Liberty International Plc Announces The Following Board And Board
Committee Changes
LIBERTY INTERNATIONAL PLC
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code: LBT
Issuer Code: LILI
LIBERTY INTERNATIONAL PLC
30 SEPTEMBER 2008
BOARD AND COMMITTEE COMPOSITION
Liberty International PLC announces the following Board and Board Committee
changes.
BOARD CHANGES
Robin Buchanan will retire from the Board on 31 December 2008. He has been a
non-executive Director since June 1997.
In November 2007, he indicated that he wished to step down as a Director but
agreed to stay on until the end of the current financial year.
John Abel, who has been a Director since 2000 and a non-executive Director since
his retirement in 2005, will also step down from the Liberty International Board
at the end of the financial year. He will continue as a consultant to the group
and as a non-executive Director of Capital Shopping Centres PLC and Capital &
Counties Limited.
As a former executive of the group, John Abel has ranked as a non-independent
Director and by stepping down he assists the Board in achieving a balance of
independent and non-independent Directors in line with the Combined Code on
Corporate Governance.
The Board intends to appoint a further independent non-executive Director in due
course.
BOARD COMMITTEE CHANGES
The new Senior Independent Director and Chairman of the Audit Committee is Rob
Rowley succeeding Patrick Burgess. Rob Rowley has been a non-executive Director
of Liberty International since May 2004. He joined Reuters Group plc in 1978
and was an executive Director from 1990-2001 and Finance Director from 1990-
2000. He was a non-executive Director of Prudential plc where he chaired the
Audit Committee.
Neil Sachdev has also been appointed to the Audit Committee.
Ian Henderson, an independent non-executive Director, will be the Chairman of
the Remuneration Committee, taking over from Robin Buchanan on 30 September
2008. The Remuneration Committee will comprise Ian Henderson and Rob Rowley.
The Nomination & Review Committee will now comprise Patrick Burgess as Chairman,
Rob Rowley and Ian Henderson.
Board and Board Committee composition following these changes is attached to
this announcement.
Patrick Burgess, Chairman, commented: "On behalf of the Board I would like to
thank both Robin Buchanan and John Abel for their significant contribution to
the Board`s thinking and to the Group`s affairs. We regret that Robin Buchanan
after long and valuable service to the Board is leaving us. I am delighted that
we will continue to benefit from John Abel`s long experience in the shopping
centre industry as he will remain as a consultant to the Group and a non-
executive Director of the two operating businesses."
Enquiries:
Patrick Burgess, Chairman +44 20 7960 1200
Susan Folger, Company +44 20 7960 1200
Secretary
BOARD AND BOARD COMMITTEE COMPOSITION
The Board composition following the changes set out in the above announcement
will be as follows:
Patrick Burgess Z Chairman
David Fischel Chief Executive
Ian Durant Finance Director
Kay Chaldecott Managing Director, Capital
Shopping Centres
Ian Hawksworth Managing Director, Capital
& Counties
Graeme Gordon
Ian Henderson + Z
Michael Rapp
Rob Rowley + # Z ^
Neil Sachdev #
KEY
+ Member of the Remuneration Committee
# Member of the Audit Committee
Z Member of the Nomination & Review Committee
^ Senior Independent Director
Date: 30/09/2008 14:45:34 Produced by the JSE SENS Department.
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