Partnership Board Changes: Chairman Succession

Partnership (“Company”) announces the appointment of Chris Gibson-Smith to the Company’s board as Chairman designate.

Chris is currently Chairman of London Stock Exchange Group and British Land.  He will retire from British Land having served as its Chairman for six years and having been on the board for ten years.

Partnership, a leading UK provider of enhanced and long term care annuities, is backed by Cinven, one of the largest private equity firms in Europe.

Following a suitable hand over period and receipt of the necessary FSA approval for Mr Gibson-Smith’s appointment, Ian Owen will retire as Chairman having served two successive four year terms in that role since the formation of the Company in 2005.  Ian will remain on the board as a non-executive Director.

Commenting on the appointment, Steve Groves, Chief Executive Officer of Partnership said:

“I am delighted to welcome Chris as the future Chairman of Partnership.  His extensive experience as a highly respected Chairman of world class businesses will be of enormous value to the Company during our next period of growth.  I would also like to take this opportunity to thank Ian for his significant contribution to the success of Partnership over the last seven years and am delighted that the Company will continue to benefit from Ian’s experience in his continuing role as a non-executive Director.”

Commenting on Chris Gibson-Smith’s appointment, Ian Owen said:

“I look forward to working closely with Chris as I continue to serve on the board in an active role, helping the Company raise our profile with Government and other key influencers, particularly in relation to the social care agenda.”
Commenting on his appointment, Chris Gibson-Smith said:

“I look forward to helping Partnership achieve its significant further potential. The Company has demonstrated very strong growth based on its deep knowledge of the impact of health and lifestyle on life longevity.  This knowledge allows it to offer higher retirement incomes to many people with problems relating to health and lifestyle.”