Last checked at 8 Sep 2011 12:40
8 September 2011
Southern Cross Healthcare Group PLC
("Southern Cross", "the Company" or "the Group")
Corporate Update
At the conclusion of its current restructuring plans, Southern Cross will no longer have a role for its Finance Director, David Smith. The Board is therefore pleased to learn from Mr Smith that he expects to take up the position of Finance Director of HC-One Limited later this year. It is planned that HC-One will become the operator of the NHP portfolio of homes, some 250 in total, when these are transferred from Southern Cross, at which point Mr Smith will stand down from the Board.
Given these circumstances, Mr Smith has advised the Board that he will not seek compensation for loss of office.
Jamie Buchan, Chief Executive said;
"David showed great courage when stepping into his current role under hugely challenging circumstances earlier this year. Since that time he has displayed immense fortitude and has performed in an exemplary manner. I am pleased to learn that he plans to continue his career with HC-One, once the transition programme has been completed."
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Enquiries:
Southern Cross Healthcare Group PLC | +44 (0)1325 351100 |
Amy Kroviak, Corporate Communications |
Financial Dynamics | +44 (0)20 7831 3113 |
John Waples / Ben Brewerton |