Primary Health Properties PLC Succession Planning (3476J)
December 12 2022 - 2:00AM
UK Regulatory
TIDMPHP
RNS Number : 3476J
Primary Health Properties PLC
12 December 2022
12(th) December 2022
Primary Health Properties PLC
("PHP" or the "Group")
Succession Planning
Primary Health Properties, one of the UK's leading investors in
modern primary healthcare facilities, announces that Harry Hyman,
Chief Executive Officer ("CEO"), has expressed his intention to
retire as Chief Executive Officer of PHP at its annual general
meeting in 2024 ("2024 AGM").
This intention is consistent with the comments communicated to
the market at the time of the Medicx merger announced in January
2019 that he would commit to managing PHP for a further five
years.
PHP will therefore be commencing the search for a new CEO in the
New Year and it is expected to be in a position to make an
appointment during 2023, with the intention of it taking effect
from the 2024 AGM.
The search for Harry Hyman's successor will be led by the
Chairman, Steven Owen, who, after consultation with a number of the
Group's major shareholders and the agreement of the Board, will,
subject to shareholder approval at the 2023 AGM, remain as Chairman
until the conclusion of the 2024 AGM in order to deal with the
appointment of the new CEO and to ensure an orderly succession.
Steven Owen was appointed as a Non-Executive Director in January
2014 and Chairman in April 2018. Under the UK Corporate Governance
Code ("the Code") he will have served nine years by January 2023
and while from this date he will not be considered independent
under the provisions of the Code the independent non-executive
directors concluded that Steven continues to act independently and
that the company will benefit significantly from him leading the
CEO succession process. Accordingly, Steven Owen will continue to
be Chairman of the Company and the Nomination Committee and a
member of the ESG Committee until his proposed retirement at the
2024 AGM. He will cease to be a member of the Remuneration
Committee from 31(st) December 2022.
More information on Primary Health Properties PLC can be found
on www.phpgroup.co.uk
Further details:
Steven Owen
Chairman
Tel: + 44 (0) 20 7451 7050
David Rydell / Steph Whitmore /
H annah Ratcliff
(Buchanan Communications)
Tel: +44 (0) 20 7466 5066
Legal Entity Identifier: 213800Y5CJHXOATK7X11
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END
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