Date: 13 Oct 2009
Leading international service company Serco Group plc (the Company) announces today that Chairman Kevin Beeston has informed the Board of his decision to step down as non-executive Chairman and so will retire from the Company after its Annual General Meeting in May 2010.
The Board will now begin the process of appointing a new Chairman which will be led by the Senior Independent Director Baroness Ford of Cunninghame.
Commenting on his decision Kevin Beeston said: "Next year will mark my 25th anniversary with Serco and 8th year as Chairman. Over this time the group has enjoyed great success and reached many significant milestones. I have greatly enjoyed my time with Serco. With my 25th anniversary next year it seems an appropriate time to step down and for the Board to have sufficient time to appoint a successor."
Christopher Hyman, Chief Executive, said: "During his 25 years of service with the Company, Kevin has held many significant positions including Finance Director, Chief Executive and Executive Chairman of the Group. On behalf of the Company I would like to thank Kevin for his significant contribution over a long period of time and wish him every success in the future."
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