HomeServe Announce Directorate Changes

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HomeServe plc announces today that Jon Florsheim has advised that he has decided to step down as a Director at the Company's Annual General Meeting in July, and will leave the Company in August.

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Jon Florsheim has been with HomeServe for over four years and under his leadership we have consolidated our UK operations into one business while continuing to grow customers, policies and profit, and improve retention.

HomeServe plc announces today that Jon Florsheim has advised that he has decided to step down as a Director at the Company's Annual General Meeting in July, and will leave the Company in August.

Mr Florsheim will be replaced as Chief Executive of the UK home emergency insurance business by Jonathan King, a Director of HomeServe plc and currently Chief Executive Officer of HomeServe USA. Mr King was appointed to the Board in July 2010 and has been Chief Executive of HomeServe USA since 2005. Prior to that, he spent four years as Managing Director of HomeServe's UK business. He previously worked in retail marketing with the Boots Company as a Group Brand Manager.

Mr King will, in turn, be replaced as Chief Executive Officer of HomeServe USA by Tom Rusin, currently a Non Executive Director of The Ambassadors Group and formerly President and Chief Executive Officer of Affinion Group's North American Division. Mr Rusin will join HomeServe USA immediately and will also become a member of HomeServe's Executive Committee.

Commenting on the changes HomeServe's Chief Executive, Richard Harpin, said:-

"Jon Florsheim has been with HomeServe for over four years and under his leadership we have consolidated our UK operations into one business while continuing to grow customers, policies and profit, and improve retention. Jon leaves the business well positioned for the future with a strong management team and we are grateful to him for all he has done here. I wish him every success in his next opportunity.

I am delighted that Jonathan King, who has led our business in the United States for over six years and has grown the business into a market leading position, has agreed to return to the UK, and that we have hired Tom Rusin, who has a wealth of experience in direct marketing, to replace him in the United States.

Jonathan and Tom both have excellent track records and I am confident they will deliver continued strong growth in two of our key businesses."

Notes

•Jon Florsheim will not be offering himself for re-election at the AGM to be held on 29 July 2011 and therefore the relevant resolution will be withdrawn.
•Jonathan King's appointment is subject to FSA approval.
•Tom Rusin is currently a Non Executive Director of The Ambassadors Group, a leading educational company that organises and promotes worldwide educational travel programs for students, athletes and professionals.
•Tom Rusin was formerly President and Chief Executive Officer of Affinion Group's North American Division from 2007 to 2010.

This information is provided by RNS
The company news service from the London Stock Exchange

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