Jupiter Fund Management PLC Non-Executive Chair change and AGM update (4459X)

TIDMJUP

RNS Number : 4459X

Jupiter Fund Management PLC

26 April 2023

Jupiter Fund Management plc

("Jupiter" or the "Company")

26 April 2023

Non-Executive Chair change and AGM update

Jupiter today announces the following changes to its Board of Directors (the "Board") and the membership of various Board committees.

Nichola Pease, Jupiter's Non-Executive Chair, has informed the Company of her intention to step down from the Board for personal reasons. The Board has appointed David Cruickshank as Non-Executive Chair of Jupiter and Chair of the Nomination Committee, subject to regulatory approval. David is currently an independent Non-Executive Director of the Company and Chair of the Audit and Risk Committee.

Further to the above changes, Karl Sternberg will act as interim Chair of the Audit and Risk Committee, subject to regulatory approval, and Roger Yates will also join the Audit and Risk Committee.

All of the above changes will take place with immediate effect. A process to identify a permanent Chair of the Audit and Risk Committee is underway and a search to recruit at least one new independent Non-Executive Director will now be undertaken.

Roger Yates, Senior Independent Director of the Company commented:

" Nichola was appointed to the Board in 2020 and has led the Company through the integration of Merian Global Investors, against a backdrop of the global pandemic, and the transition to a new Chief Executive last year. She has shown great dedication to Jupiter's business throughout her tenure, in what have been exceptional circumstances. The Board wishes her all the very best for the future.

We are delighted to appoint such an experienced business leader in David Cruickshank to succeed Nichola. David was formerly Chair of Deloitte's UK and then it's Global Boards and retired from the firm in 2020. He has developed a deep understanding of our business since joining the Board in June 2021. We continually keep under review both internal and external candidates for all key positions as part of the Board's ongoing succession planning and we are confident that David has the right knowledge, skills and experience to lead the Board whilst also providing important continuity."

Matthew Beesley, CEO of Jupiter commented:

"It has been a privilege to work with Nichola and I have benefited from her support and strategic insights since my appointment. I look forward to working with David and the rest of the Board as we continue to drive progress in line with our strategic ambitions."

David Cruickshank, Chair of the Company commented:

"I am pleased to be appointed Chair of Jupiter and look forward to working with the team as we continue our resolute focus on delivering for our clients, shareholders and indeed all stakeholders. Nichola leaves an experienced and talented Board, who are focused on helping deliver our strategy and I would like to extend our thanks to Nichola, on behalf of the Board, for her strong leadership and support."

AGM update

Following Nichola Pease's decision to step down from the Board of Jupiter, the Company confirms that it is withdrawing the resolution to re-elect her as a Director at the Annual General Meeting ( " AGM " ) to be held on 10 May 2023 (Resolution 9 of the Company's Notice of AGM dated 29 March 2023).

The proposed withdrawal of Resolution 9 does not otherwise affect the validity of the Notice of Annual General Meeting, the proxy form or any proxy votes already submitted on other resolutions. The numbering of all other proposed resolutions at the Annual General Meeting will remain unchanged.

There are no other details that are required to be disclosed under paragraph 9.6.13R of the Listing Rules.

Ends

For further information please contact:

                                                     Investors                                           Media 

Jupiter Alex James Despina Constantinides

                                                    [phone]                       [phone] 

Powerscourt Justin Griffiths

[phone]

Employment arrangements:

As Non-Executive Chair, Mr Cruickshank will be paid an annual fee of GBP235,000, being the same rate as was paid to Ms Pease. Such fee will be subject to periodic review in line with the Company's remuneration policy.

Changes to the membership and Chair of the Audit and Risk Committee, will result in revised NED fees for those impacted directors, in accordance with our standard NED fee structure as previously disclosed.

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April 26, 2023 02:00 ET (06:00 GMT)