19/04/2010
Board and Management Changes
Plan B wishes to announce that effective immediately, Mr. Denys Pearce will step down as Managing Director of the Company. The Executive Chairman of the Company, Mr. Bryan Taylor, has assumed the leadership responsibilities within the Group.
The Board wishes to acknowledge and thank Mr. Pearce for his substantial contribution to Plan B’s development and growth. Mr. Taylor said, “The Board sincerely thanks Denys for his commitment to the success of Plan B over the last 11 years, culminating in the Company’s listing on ASX in June 2007 and its strong performance during the recent global financial crisis. Under Mr. Pearce’s stewardship, Plan B is in a sound financial position and has an exceptional platform from which to accelerate growth in the future.”
Mr. Taylor is highly qualified to implement Plan B’s future growth strategy and increase the Company’s profitability. Bryan has 30 years of experience in wealth management, including advisory activities, business development and client relationship management. He has played an active role in guiding the strategic direction of the Company and is the Chairman of the Investment Policy Committee.
The management changes and consolidation of the leadership role under Mr. Taylor will focus the Company’s next phase of development and streamline overhead expenses. “Plan B is in excellent shape with exciting growth opportunities. I am committed to accelerating Plan B’s expansion through the implementation of the Company’s strategic plans and look forward to working with the Board to achieve that objective,” said Mr. Taylor.
The Board is pleased that Mr. Pearce will continue to play an active role with the Plan B group. He will assist Mr. Taylor during an expected 3 month transition period and thereafter remain a director of Plan B Trustees Limited and a member of the Company’s Investment Policy Committee.
Plan B last week announced record Funds under Management, Administration or Advice (“FUMA”) of $2.19 billion as at 31 March 2010, including on-platform FUMA of $1.70 billion.