Stagecoach board moves as Gadhia, Whitehorn leave

Jayne-Anne Gadhia

Stagecoach Group plc on Wednesday announced hanges to its board with deputy chairman Will Whitehorn planning to step down next year and non-executive director Jayne-Anne Gadhia leaving on July 31, 2019, to become CEO of financial services start-up Snoop.

Gadhia the former CEO of Virgin Money.

In a stock exchange statement, Stagecoach Group said: “Deputy chairman, Will Whitehorn, will step down from the board on 30 June 2020, when he will have served for nine years and be regarded as non-independent based on the criteria for independence stated in the UK Corporate Governance Code. 

“Will Whitehorn will be succeeded as deputy chairman by Ray O’Toole, who joined the board as a non-executive director in September 2016 and is currently chairman of the Health, Safety and Environmental Committee and the Remuneration Committee …

“We are pleased to confirm that Karen Thomson, non-executive director, will continue to serve on the board.

“She was due to step down from the board at the conclusion of the Annual General Meeting scheduled for 30 August 2019.

“However, due to recent changes in her other business commitments, she will now continue as a non-executive director and will seek re-election at the 2019 Annual General Meeting.

“In addition, non-executive director, Dame Jayne-Anne Gadhia, has indicated that she will be stepping down from the board on 31 July 2019 and will therefore now not seek election at the 2019 Annual General Meeting.

“Dame Jayne-Anne is stepping down to take up the new full-time role of Chief Executive at financial services start-up, Snoop.”

Stagecoach chairman Brian Souter, said: “I would like to take this opportunity to thank Dame Jayne-Anne for her positive contribution to the board and wish her well for the future.

“I am pleased that we will have the insight, experience and good counsel of Ray O’Toole in his new role as deputy chairman as we look to maximise the opportunities for the business ahead.”