Directorate Change (4431O)

TIDMCPP

RNS Number : 4431O

CPPGroup Plc

19 September 2011

19 September 2011

CPPGROUP PLC

Appointment of New Chief Executive Officer

CPPGroup Plc ("CPP" or the "Group") today announces the appointment of Paul Stobart as Chief Executive Officer of the Group with effect from 1 October 2011. The appointment follows a comprehensive search process after Eric Woolley indicated his desire to step down as CEO after eight years of service.

Paul Stobart was, until 31 May 2011, Executive Director and Chief Executive Officer of Sage Northern Europe, part of Sage Group plc. He qualified as a chartered accountant with Price Waterhouse and spent five years in corporate finance with Hill Samuel before joining Interbrand, an international marketing services consultancy, in 1988. He joined Sage in 1996 as Business Development Director, to then become Managing Director of UK & Ireland in June 2003 before being appointed Chief Executive Officer of Sage Northern Europe in January 2011.

After Paul joins on 1 October 2011, there will be a two week handover from Eric Woolley. Eric will continue to be available for consultation for a further six months.

Charles Gregson, Chairman of CPPGroup Plc, commented:

"Paul has an excellent track record and brings significant, relevant experience to CPP following his 15 years at Sage. He understands the mechanics of a customer-focused, high service business and his very strong financial and operational background will be of great value to the Group.

"The Board also wishes to express its sincere appreciation to Eric for his work over the past eight years, including leading the business to a successful listing on the London Stock Exchange. We wish him every success for the future."

Paul Stobart said:

"I am delighted and excited to be joining CPP at such an important stage in its development as a successful and growing international business and am looking forward enormously to working with Charles and the CPP team."

There are no further disclosures required under Rule 9.6.13 of the Listing Rules.

Ends

For further information contact:

Tulchan Communications Group Ltd [phone]

John Sunnucks

David Allchurch

Notes

Paul Stobart career summary

1996 - 2011 Sage Group plc, Newcastle upon Tyne

2011 - 2011 CEO, Northern Europe Region

2003 - 2010 CEO, UK and Ireland Region

2000 - 2003 Chief Operating Officer

1996 - 2000 Business Development Director

1988 - 1996 Interbrand, Branding Consultancy, New York and London

1993 - 1996 Chairman, European region

1989 - 1993 Managing Director, UK

1988 - 1989 Finance Director

1983 - 1988 Hill Samuel, Corporate Finance, London and New York

1980 - 1983 Price Waterhouse, London

About CPPGroup Plc

CPPGroup Plc (CPP) is a fast-growing and leading international Life Assistance business with operations in 15 geographical markets in both developed and developing countries. Card protection was the first product the Group introduced 30 years ago. Since then CPP has launched mobile phone insurance, legal assistance and identity theft protection. CPP is also prominent in the provision of Packaged Accounts where we source products and services to create a tailored 'package' for bank account customers. We also provide a range of travel support services such as translation and lost-and-found luggage services as well as access to airport lounges worldwide. Our joint venture with Mapfre Asistencia provides assistance for plumbing, drainage, gas, electrical and other home-related emergencies.

This information is provided by RNS

The company news service from the London Stock Exchange

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