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Studio Retail Group PLC Directorate Change

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Studio Retail Group PLC

08 November 2021

8 November 2021

Studio Retail Group plc

Directorate change

Studio Retail Group plc (“Studio” or “Company”), the digital value retail business, announces the appointment to its Board of Michael Torpey as an independent Non-Executive Director with effect from 1 December 2021. He will also become a member of the Board’s Audit, Nomination and Risk Committees, and take over as chair of the Audit Committee, on appointment(1).

Michael is a highly experienced Finance Director and banking executive, with a strong track record in commercial and finance roles in the Irish financial services sector, both private and public. Having retired in 2018, he has since 2019 been a Non-Executive Director and chair of the Audit Committee of Metro Bank plc, a FTSE-listed business regulated by the Financial Conduct Authority and Prudential Regulation Authority.

Ian Burke, Chairman, commented:

“I am delighted to welcome Michael to the Studio Board. The expertise he brings with him from his executive and non-executive careers in the area of financial services business activities and finance is extremely valuable. It will significantly strengthen the skills, insight and robustness of the Board as we continue to focus on growing Studio’s digital value proposition.”

The Company confirms that there is no further information about Michael Torpey requiring disclosure under paragraph 9.6.13 (1) to (6) of the Listing Rules.

(1) Ian Burke, Chairman, has acted as interim Chair of the Audit Committee (following the retirement of Elaine O’Donnell from the Board at the conclusion of this year’s AGM on 22 September) and he will retire from that Committee immediately upon Michael Torpey’s appointment.

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NOTES

LEI number: 2138006V9ZT2KO6PZY81

Biographical details: Michael Torpey retired as Chief Executive of the Corporate & Treasury division, and a member of the Group Executive Committee, at the Bank of Ireland in August 2018. He has extensive experience in senior roles across financial services. His past appointments include: Head of Banking at the National Treasury Management Agency in Ireland; Group Treasurer at Irish Life and Permanent plc; Senior Treasury Adviser at Irish Financial Regulator; Finance Director at Ulster Bank Group; and Finance Director at First Active plc.

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(END) Dow Jones Newswires

November 08, 2021 02:00 ET (07:00 GMT)

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