The Board of Provident Financial plc is pleased to announce the appointment of Margot James as an Independent Non-Executive Director of the Company with effect from 27 July 2020. On her appointment, Margot will become a member of the Nomination, Remuneration and Customer, Culture and Ethics Committees.
Patrick Snowball, Chairman of Provident Financial plc said:
"I am delighted to welcome Margot to the Board and look forward to working with her. Her appointment brings a great balance of skills and experience to the Board, with her wide ranging career as a commercial and entrepreneurial business owner and her work in the UK Government. Margot’s experience of working in consumer policy, citizens advice and advising on labour markets will enable her to understand and promote the interests of our customers and wider stakeholders, as we seek to deliver our purpose of helping put people on the path to a better everyday life.”
Margot served as a Member of Parliament between 2010 and 2019 and has held a number of ministerial offices, latterly as Minister of State for the Department of Digital, Culture, Media & Sport where she championed the interests of both industry and consumers in the digital world. In her role as Parliamentary Under Secretary of State at the Department for Business, Energy & Industrial Strategy, Margot had responsibility for small businesses, consumers and corporate governance, including labour markets and the retail sector.
Prior to serving as an MP, Margot founded Shire Health Group in 1985, which provided public relations and medical education services to pharmaceutical companies, and led its growth to over 100 staff. She led the successful transitioning of Shire Health Group to the multinational WPP in 2000 and subsequently joined the Board of Ogilvy & Mather, one of WPP's larger advertising-led networks, between 2003 and 2006. Margot has also served as a Non-Executive Director of Parkside NHS Trust.
Margot is executive chair of the WMG, a department of the University of Warwick which seeks to drive innovation in applied science, technology and engineering through successful collaboration between academia and the public and private sectors. She also serves as a Member of the Court of Governors of London School of Economics.
Margot James said:
"I am very excited to be joining Provident Financial plc as Non-Executive Director. The company has a strong social purpose and I look forward to working with the Board as we continue to make progress on the Group's strategy, delivering for our customers and our shareholders.”
The following information is disclosed in accordance with LR 9.6.13:
In accordance with the Listing Rules, there are no matters requiring disclosure under 9.6.13R of the Listing Rules of the Financial Conduct Authority in relation to the appointment of Margot James.
Richard King, Provident Financial: 07919 866876
Nick Cosgrove/Charlie Pretzlik, Brunswick: 020 7404 5959
Owen Jones, Provident Financial: 07341 007842, firstname.lastname@example.org
Notes to editors:
Provident Financial plc is a leading provider of credit products which provide financial inclusion for those consumers who are not well served by mainstream lenders. The group serves 2.3 million customers and its operations consist of Vanquis Bank, Moneybarn, and the Consumer Credit Division (CCD) comprising Provident home credit and Satsuma.