Admiral Group plc Announces Audit Committee Changes
Admiral Group Announces Audit Committee Changes
Admiral Group Plc, known colloquially as Admiral, has revealed important changes regarding its Audit Committee following its recent Half Year Results. This transition signals a continued commitment to governance and independence within the organization.
Announcement Overview
On April 26, 2024, Admiral announced that Karen Green planned to step down from her role as a member of the Audit Committee. This decision aligns with the recent release of Admiral's 2024 Half Year Results. Effective September 1, 2024, following the completion of these results on August 15, 2024, Karen will officially leave her committee position while maintaining her role as Chair of the Remuneration Committee and a member of the Risk Committee.
New Committee Composition
The Audit Committee will welcome new members to ensure robust oversight and accountability. Starting in September, Fiona Muldoon will take on the role of Chair, supplemented by the expertise of Mike Brierley and Evelyn Bourke. Each of these Non-Executive Directors is recognized by the Board for their independence, which enhances the committee’s functionality and integrity.
Importance of these Changes
The alterations in the Audit Committee highlight Admiral’s commitment to adhering to UK Listing Rule 6.4.6R. The company strives to foster an independent and effective committee structure to support transparency and uphold stakeholder trust. These adjustments are crucial for sustaining high standards of corporate governance.
Continued Leadership by Karen Green
While Karen Green is stepping down from her position on the Audit Committee, her ongoing leadership roles reaffirm her dedication to Admiral. As Chair of the Remuneration Committee, she will continue to influence strategic decisions regarding compensation and benefits, ensuring they align with the company’s values and objectives.
Contact Information for Further Inquiries
For any additional questions or specific details regarding these changes, stakeholders and interested parties can reach out to the appropriate contacts at Admiral Group. Dan Caunt serves as the Company Secretary and can provide official statements or clarifications.
For media inquiries:
Claire Foster – Email: Claire.Foster2@admiralgroup.co.uk
For investor or analyst inquiries:
Diane Michelberger – Email: InvestorRelationsTeam@admiralgroup.co.uk
Frequently Asked Questions
What changes were announced regarding the Audit Committee?
The changes involve Karen Green stepping down from the Audit Committee, effective September 1, 2024, while Fiona Muldoon will serve as the new Chair alongside Mike Brierley and Evelyn Bourke.
Why is Karen Green stepping down from the Audit Committee?
Karen's departure is part of a strategic move aligning with the release of Admiral's 2024 Half Year Results, allowing for the introduction of new members to the committee.
Who will be the new members of the Audit Committee?
The new Audit Committee will have Fiona Muldoon as Chair, along with Mike Brierley and Evelyn Bourke as Non-Executive Directors.
What is the significance of having independent directors on the Audit Committee?
Independent directors on the Audit Committee are crucial for ensuring unbiased oversight and accountability within the organization, promoting integrity in financial reporting.
How can stakeholders contact Admiral Group for inquiries?
Stakeholders can contact Claire Foster for media inquiries and Diane Michelberger for investor relations via the provided email addresses.
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