Last checked at 25 Nov 2008 07:00
APPOINTMENT OF NEW CEO
Tuesday, 25 November 2008 - Southern Cross Healthcare Group PLC (LSE: SCHE) ('Southern Cross' or the 'Company'), the UK's largest care home operator, today announces that Jamie Buchan has been appointed Chief Executive of Southern Cross Healthcare Group Plc with effect from 1 January 2009.
Southern Cross is the UK's leading provider of elderly care through its national network of 735 homes and Mr Buchan's experience of providing a high quality customer experience with tight cost control across multi-site operations will be critical to the business.
Between 2002 and earlier this year, Mr Buchan, backed by a Malaysian private fund, led the successful turnaround and subsequent sale of the ExCeL Exhibition and Conference centre in London.
Prior to that, Mr Buchan held leading roles in hospitality at Whitbread, in customer service and brand development at Centrica, in logistics at Ocean Group and, for 14 years, retail service station operations in Esso which he joined as a graduate trainee in 1981. Mr Buchan is 49.
Mr Buchan's appointment completes the new executive team at Southern Cross joining Richard Midmer and Kamma Foulkes, both of whom were appointed to the Board in July. A key remit for the team will be to refocus attention on excellence of service delivery and to develop a clear strategy to rebuild shareholder value.
Commenting on the appointment, Ray Miles, Chairman, said: "We are delighted to have Jamie join us and look forward to the new management team taking the Company forward to a full recovery from the setbacks of last summer."
Jamie Buchan said: "The services which Southern Cross provides are of huge importance to the elderly in the communities which we serve. I am thrilled to join the Company and my objective is to work with the whole team to ensure that Southern Cross achieves its full potential."
The Company will announce its results for the financial year ended 30 September 2008 on 9 December 2008.
There are no further details to be disclosed pursuant to Listing Rules LR9.6.13.
Ends
Enquiries:
| Southern Cross Healthcare Group PLC | +44 (0)1325 351100 |
| Ray Miles, Chairman | |
| Richard Midmer, Finance Director | |
| Financial Dynamics | +44 (0)20 7831 3113 |
| David Yates/Emma Thompson |
About Southern Cross
Southern Cross is, in terms of number of beds, the largest UK provider of care home services for the elderly and a major provider of specialist services for people with physical and/or learning disabilities. The Company's care homes for the elderly operate under two distinct brands: Southern Cross Healthcare and Ashbourne Senior Living. Both brands provide a range of social and personal care services and nursing care services for elderly people with physical frailties and differing forms of dementia. The Company's specialist services operate under the Active Care Partnerships brand and provide long-term care services for people with physical and/or learning disabilities and for younger people with complex forms of challenging behaviour.
Southern Cross is focused on providing high quality care in well invested facilities, seeking to be the home of choice in each local community in which it operates. The Company provides care services for most of the local authorities in the UK which, together with the NHS, represent circa 70% of the Company's revenues. Its care home portfolio is largely purpose-built with a high percentage of single occupancy rooms and rooms with ensuite bathrooms.
This announcement includes statements that are, or may deemed to be, "forward looking statements". These forward looking statements can be identified by the use of forward looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will", or " should" or, in each case, their negative or other variations or comparable terminology. These forward looking statements include matters that are not historical facts and include statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, liquidity, prospects, growth, strategies and the outlook on the care home industry. By their nature, forward looking statements involve risk and uncertainty because they relate to future events and circumstances.