Virgin Money UK plc today provided an update regarding its Board composition.

On 16 December 2022 the company announced that Darren Pope, a Non-Executive Director of the Company and Chair of the Remuneration Committee, had informed the Board of his intention to step down from the Board on 26 May 2023 to explore another non-executive director role which would have caused a conflict with Virgin Money.

Darren Pope has updated the Board that he will no longer be progressing this external opportunity and it has therefore been agreed that Mr Pope will remain on the Virgin Money Board and will continue to Chair the Remuneration Committee.

In line with the Board succession plan, the search process for a Chair of the Remuneration Committee successor will continue. When a successor is appointed and a handover completed, Darren Pope will remain on the Board as a Non-Executive Director.