31st Jan 2005 11:01
Egg PLC31 January 2005 Egg plc Changes to Board at Egg plc Founder Mike Harris retires from Egg Not for release until: 31st January 2005 Egg plc ("Egg") announces today that its pioneering founder and former ChiefExecutive Mike Harris will step down from the Egg Board and his role asExecutive Vice Chairman following the company's next Annual General Meeting on16th May 2005. Mike will continue to provide strategic advice to the EggExecutive up until he retires from the company at the end of January 2006. Mike joined Prudential plc as Chief Executive Officer of Prudential Banking plcin July 1995. In October 1998 he successfully created and launched Egg, theUK's first ever online bank, attracting £5 billion funds under management injust 6 months and transforming the UK financial services market. On 1 January2001 he stepped down as Chief Executive of Egg and took on the role of ExecutiveVice-Chairman of the Board. Before joining Prudential Mike was the founder and Chief Executive Officer ofFirst Direct, the UK's first direct banking operation. He also served for fouryears as a main board director of Cable and Wireless, one of the UK's largestpublic companies, as CEO of Mercury Communications plc. Commenting on Mike's decision to retire, Roberto Mendoza, Chairman of Egg plc,said: "Mike has been largely responsible for developing the vision of Egg, anorganisation devoted to transforming the financial services industry for thebenefit of the consumer. "I will of course be sad to see Mike leave Egg and, on behalf of the Egg Boardand all Egg People, I would like to thank him warmly for his great contributionover the past 6 years. We wish him all the best in his future endeavours." Mike Harris commented: "I am delighted to have played a part in what I consider to be one of the mostinnovative and important businesses in financial services today. Egg has beenat the forefront of radical change in the UK banking sector and I believe thatwith its dynamic management team and scale of ambition, it will continue tochange the way consumers manage and feel about their money. "I am now looking forward to stepping down from an Executive role in a publiccompany and will seek future opportunities in strategic advisory roles and inhelping to create high growth companies in the private equity domain." -ends- For further information: Media: Egg Media Relations: 020 7526 2600 Mark Maguire: 020 7526 2561 or 07771 808 624 Emma Byrne: 020 7526 2565 or 07775 657 241 Analysts / Investors: Kieran Coleman: 020 7526 2648 / Mobile: 07711 717 358 Notes to editors: -Pictures / further information available on request. About Egg: 1. Egg plc is the world's largest pure online bank, providingfinancial services products through its Internet site and other distributionchannels. 2. Egg plc floated on 12 June 2000 and is listed on the LondonStock Exchange. Prudential plc holds 78% of the share capital. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Prudential