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LCH Clearnet CEO Hardy resigns; Tupker named chairman; Saint-Sauveur, vice chairman

06 July 2006  |  1915 views  |  0 Source: LCH Clearnet

Appointment of new chairman

The Company announced in May that its Chairman, Gérard de La Martinière, was standing down and a search for a new Chairman was underway. The Board is delighted to announce that, at its scheduled Board meeting today, it confirmed the appointment of Chris Tupker as a director and Chairman with effect from 10 July 2006.

Chris is the outgoing Chairman of Euroclear. The Board is pleased to have secured someone of Chris's quality, and his substantial experience of the clearing and settlement landscape will immediately support the Company in pursuing its strategic opportunities.

The Board thanks Mr de La Martinière for his leadership of the Group since the merger with Clearnet.

Appointment of Vice Chairman

The Company is delighted to announce that Hervé Saint-Sauveur, who has been a director of LCH.Clearnet Group Ltd since its creation in December 2003, is currently adviser to the Chairman of Société Générale, has been appointed Vice Chairman. He will also take over as chairman of the Audit Committee.

Resignation of CEO

David Hardy informed the Board today of his decision to resign as CEO of the holding company after 19 years’ service with this group. The Board thanked David for his leadership of the group over many years, during which time he has built it into the leading force in the European clearing landscape. Christophe Hémon and Patrick Birley, the CEOs of LCH.Clearnet SA and LCH.Clearnet Limited respectively, will continue to perform their roles in running the day to day business of the two key operating entities. A search is underway for a new Group CEO.

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