Coventry Building Society Appointment of Chair Designate (8636A)

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RNS Number : 8636A

Coventry Building Society

07 February 2022

Coventry Building Society

7 February 2022

APPOINTMENT OF CHAIR DESIGNATE

Coventry Building Society is pleased to announce that, following a comprehensive selection process, its Board has resolved to appoint David Thorburn as a non-executive director. It is envisaged that Mr Thorburn will join the Board in April 2022 and he will succeed Gary Hoffman as the Society's Chair at the conclusion of the AGM on 28 April 2022 when, as previously announced, Mr Hoffman will stand down from the Board.

This appointment is subject to regulatory approval.

Mr Thorburn has until recently served as a director of Barclays Bank UK PLC, where he chaired the Board Risk Committee. He is also an Independent Non Executive with Ernst & Young Global Limited and Ernst & Young LLP, where he chairs the Audit Board. David was previously Chief Executive of Clydesdale Bank PLC and an External Member of the Bank of England's Prudential Regulatory Committee.

Commenting on the appointment, Steve Hughes, CEO, said:

"I am pleased David has agreed to join the Society and take up the role as Chair of the Board later this year. David's experience and insight will be invaluable as we continue to build on our success and focus on our aim to deliver a sustainable future for the organisation and society as a whole. I very much look forward to working with him.

I would also like to take this early opportunity to thank Gary Hoffman for the outstanding contribution he has made as our Chair. He has successfully guided the business through the challenges of the pandemic and enabled us to remain focused on ensuring we deliver the best possible outcomes for members and we wish him well in the future."

Gary Hoffman commented:

"I have enjoyed my time with the Society and I feel certain that the future of the Society, as an organisation committed to delivering for its members, is extremely bright. We have a very strong and diverse Board and I wish David, the Board and the Society every success in the future."

David Thorburn commented:

"I am delighted to be joining Coventry Building Society, a business committed to doing the right thing for its members. I look forward to working with the Board and the Team to ensure the Society continues its record of success."

There are no other details that require to be disclosed in respect of Rule 9.6.13 of the Listing Rules.

Media enquiries should be directed to:

Richard Field

Head of Communications

Tel: 0800 121 6868

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