The Board of Hargreaves Lansdown today announced the appointment of Alison Platt to the role of Chair of the Board and as a Non-Executive Director of HL, subject to customary regulatory approvals.

Ms Platt will succeed Deanna Oppenheimer, who will be stepping down from her role as Chair of the Board and a Director of HL at HL’s Annual General Meeting (AGM) on 8 December 2023. She will have served as Chair for six years.

Alison Platt is currently Chair of Dechra Pharmaceuticals plc, a specialist veterinary products business which is currently going through an acquisition by EQT. She is also a Non-Executive Director of Tesco plc and the Chair of general insurer, Ageas UK. Ms Platt will join HL’s Board in early 2024.

Ms Platt was Chair of L&G Financial Advice from 2019 to 2022 and CEO of Countrywide from 2014 to 2018. Prior to that she held several senior roles at BUPA, both in the UK and Internationally.

Following the AGM, during the period to Ms Platt’s regulatory approval as new permanent Chair, the Board has confirmed the appointment of Penny James as Interim Chair. She is currently the Senior Independent Director (SID).

Penny James will be replaced in this position by Andrea Blance as SID. These appointments are effective from 8 December 2023 and on the appointment of the new permanent Chair, each will revert to their prior Board position. Penny James will chair the HL 2023 AGM.

Having remained on the Board to support with the Chair selection process, Roger Perkin has informed the Board that he will also not be standing for re-election at the AGM and will be stepping down from the HL plc Board on 8 December 2023. Roger Perkin has also served on the Board for six years, including as Chair of the Board Audit Committee.

As the Company’s Notice of the AGM 2023 has already been issued, the Company confirms that the resolution to re-elect Deanna Oppenheimer as a Director of the Company (Resolution 7 of the Notice) is now withdrawn. The resolution to re-elect Roger Perkin as a Director of the Company (Resolution 10 of the Notice) is now withdrawn.

Alison Platt said:

“I am delighted to be joining the HL Board and excited by the opportunity to work with Dan and the team as HL continues its critical work in supporting clients to make savings and investment decisions with confidence. I look forward to working closely with my new Board colleagues to guide HL’s next phase of growth.”

Deanna Oppenheimer, Non-Executive Chair, HL plc, said:

“I’m honoured to have overseen the Board during a period of significant change for the industry and for HL. HL is in a strong position for growth and has skilled leadership which will ensure the company’s future success. Over the last six years our client numbers have doubled to 1.8 million and our share of the direct-to-consumer market has grown significantly from 35% to 42%.

“I’m delighted to hand over to Alison, whose broad and relevant experience across different sectors will be of great benefit and support to the HL team as they move forward. I would also like to thank Roger for his service and dedication to HL and for staying on over these last few months to support the Chair selection process.”

Alison Platt’s appointment follows a comprehensive recruitment process supported by an external executive search firm. She will join and chair the Nomination & Governance Committee of the HL plc Board upon her appointment as Non-Executive Director, subject to regulatory approval.