NEW APPOINTMENTS
Joining the board with effect from 1 February 2001 are four new non-executive directors: Baroness (Janet) Cohen (60) is a Life Peer. She is a non-executive director of BPP Holdings plc (the UK's largest quoted professional educational group), the Defence Logistics Organisation (which provides all logistical support to the UK armed forces), and ISI Holdings Ltd (an internet strategy consultancy). Janet Cohen was a civil servant until 1982 when she joined Charterhouse Bank. From 1993 she was a consultant and non-executive director of Charterhouse Bank and is now an advisory director to HSBC Investment Bank, following their acquisition of Charterhouse last year.
Oscar Fanjul (51) is chairman of Hidroelectrica del Cantabrico, one of Spain's leading utilities which provides electricity and gas and also has ventures in cable TV and telecoms. In addition, he is a non-executive director of Ericsson SA, Banco Bilbao Vizcaya Argentaria BBVA and an advisory director of Unilever. He is also a member of the International Advisory Board of Marsh & McLennan and of the Chubb Corporation. He was the founder chairman and CEO of REPSOL.
Nigel Stapleton (54) is Chairman of Veronis Suhler International Ltd, the European affiliate of Veronis Suhler, the New York based media merchant bank, which manages a $1 billion private equity fund and also offers merger and acquisition advisory services. From 1986 to 1999 he held senior appointments at Reed International plc / Reed Elsevier plc, including Chief Financial Officer of Reed Elsevier plc (1993 to 1996), Co-Chairman of Reed Elsevier (1996 to 1998) and Chairman of Reed International (1997 to 1999).
Robert Webb QC (52) has been General Counsel of British Airways plc since September 1998. He is responsible in BA not only for the legal team, but also for government and industry affairs, safety, security, risk management and the environment. In BA's negotiations with its foreign partners, whether in oneworld or in outside merger discussions such as KLM, he develops the governmental and regulatory framework in the UK, Europe and in the USA.
These appointments will all take effect from 1 February 2001.
Commenting Don Cruickshank, Chairman of the London Stock Exchange said: "We welcome these new independent directors to the board. They bring a wealth of international business experience and understanding of running a company and we look forward to their input to our decision-making process."
DIRECTORS STANDING DOWN
It is also announced today that a number of existing non-executive directors of London Stock Exchange plc will be standing down from the board by 31 March 2001.
The directors who will be standing down are: Graham Allen, Ian Plenderleith, Simon Robertson, Hector Sants and Nigel Sherlock.
Don Cruickshank said today: "The Exchange is most grateful to these non-executive directors for the valuable contribution they have made to the business over a number of years. I have valued the part they have played in our decision-making process, and I am glad to have this opportunity to thank them all for the work they have done."
With effect from 31 March 2001, the Board of London Stock Exchange plc will consist of 12 directors:
Don Cruickshank (Chairman); Clara Furse (Chief Executive); Martin Wheatley and Jonathan Howell (Executive Directors) together with the following non-executive directors: Ian Salter (Deputy Chairman), Gary Allen, Lady Cohen, Oscar Fanjul, Michael Marks, Peter Meinertzhagen, Nigel Stapleton and Robert Webb.
