9th May 2011 14:11
For immediate release on 9 May 2011 Candover Investments plc - Appointment of non-executive director
Candover Investments plc (Candover) today announces the appointment of Scott Longhurst as a non-executive director to take effect immediately following the Annual General Meeting on 18th May 2011. He will take over the Chair of the Audit, Risk and Valuation Committee from Richard Stone, who was appointed Chairman of Candover in April 2011.
Scott Longhurst is currently Group Finance Director of Anglian Water Group (AWG) and also Managing Director of AWG's Non-Regulated Businesses. AWG, a former FTSE listed company, was taken private by a consortium of private equity investors in 2006. The Group primarily comprises Anglian Water, the fourth largest water supply and waste water company in England and Wales; and support services group, Morrison.
Prior to joining AWG in 2004, Mr Longhurst held a variety of senior finance positions in the energy sector in the Middle East, Europe and the US for Shell and TXU corp. He was latterly Group Controller and Chief Accounting Officer for TXU Corp, a Texas-headquartered energy business with operations also at that time in Europe and Australia. Mr Longhurst holds an accountancy degree and qualified as a chartered accountant with Ernst & Young.
Richard Stone, Chairman of Candover Investments plc, said:
"We are delighted to welcome Scott on to the Board. His experience of both PLC and private equity environments, and his background in energy and energy services, are very relevant to Candover. With a significant concentration of our portfolio by value falling within this sector, Scott's insight into where the long term value lies as we seek to return cash to shareholders as realisations are made by our investment manager, Arle Capital Partners, will be very valuable."
Scott Longhurst was a director of AWG plc prior to its delisting in December 2006 and is a director of AWS Financing plc. There is no further information to be disclosed under paragraph 9.6.13 of the Listing Rules issued by the Financial Services Authority.
Scott Longhurst has an interest in 1,200 shares of Candover Investments plc.
For further information, please contact: Candover +44 (0) 20 7895 2826
Malcolm Fallen, CEO
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