Board Changes

Details of any changes to the Board of directors during the current financial year are outlined below.

Appointment of Directors

Brendan Russell Non-Executive Director 

Brendan Russell was appointed to the Boards of UKAR, B&B and NRAM as a Non-Executive Director on 27 June 2017. Mr Russell brings corporate banking and finance experience to the Board, having previously held a number of senior roles with major banks and consultancy firms, most recently with Royal Bank of Scotland.

Peter Norton – Non-Executive Director

Peter Norton joined the Boards of UKAR, B&B and NRAM as a Non-Executive Director on 6 April 2017, having been appointed by UK Financial Investments Ltd (“UKFI”) to manage HM Government’s shareholdings in the companies.

Resignation / Retirement of Directors (including Loss of Compensation)

Michael Buckley retired from the Boards of UKAR, B&B and NRAM on 27 June 2017.

In accordance with the Large and Medium Sized Companies and Groups (Accounts and Reports) (Amendment) Regulations 2013, we can confirm that he will receive no payments for loss of office.