– UK, Cardiff – Manfred Aldag will retire from the Board with effect from 31 August 2015 having served as a non-independent non-executive director of the company since 2003.
Following receipt of regulatory approval, Owen Clarke will join the Board as a non-executive director with effect from 19th August 2015. Owen is currently the Chief Investment Officer of Equistone (formerly Barclays Private Equity, ‘BPE’): he served as a director of Admiral from 1999 – 2004 when it was a private company having led BPE’s participation in the MBO of Admiral in 1999.
Alastair Lyons, Chairman, commented: “Manfred has made an enormous contribution to Admiral’s success over the many years he has served on our Board and he will be much missed, both as a colleague and a friend: he takes our best wishes with him into retirement.
“We are delighted that Owen is now able to rejoin the Board of Admiral: he has an excellent understanding of our business and a great commercial record, and we look forward to once again benefitting from his wise counsel.”
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