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Dignity Taps Interim Chair As Search For Hindley Successor Drags On.

LONDON (Alliance News) - Funeral services provider Dignity PLC on Thursday said it is unlikely to have a new chair in place before this summer's annual general meeting.

Current Chair Peter Hindley a year ago signalled his intention to retire during 2019, and a search for a new chair began at the time.

"However, given the significant changes that are being made to the operating model of the company and the current level of uncertainty surrounding the funeral industry, and after consulting with major shareholders, the board has concluded the role and experience needed had changed and accordingly the search process to select a new chair was amended," said Dignity.

"The board had hoped to be in a position to announce Peter's replacement at the time of the company AGM on June 13 but it is unlikely that will now be achieved."

Hindley will step down at the AGM, with Senior Independent Director David Blackwood taking up the role on an interim basis until a successor is found.

Dignity also said Thursday that James Wilson joined as a non-executive director on Wednesday. He is a partner at Phoenix Asset Management Parts Ltd, with funds managed by Phoenix owning 27% of Dignity.

Dignity plans on appointing further non-executives in the future, it said.

Dignity is facing a UK Competition & Markets Authority investigation into the funeral sector over concerns about competition and the rising cost of funerals in the UK.

In early 2018, Dignity overhauled its pricing for funerals, cutting the price sharply amid a "step change" in the number of simple funerals as a percentage of all funerals.

Shares were 1.3% lower on Thursday at a price of 702.14 pence each.

By George Collard; georgecollard@alliancenews.com

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Publication:Alliance Newswire
Date:May 2, 2019
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