Spire Healthcare Group
plc
('Spire Healthcare', 'the
Company' or 'the Group')
Spire Healthcare Group
announces CFO transition
29
February 2024
Spire Healthcare Group Plc (LSE:
SPI, the "Company" or "Spire Healthcare") today announces that
after five years, Jitesh Sodha has decided to step down from the
Board and as Chief Financial Officer ("CFO") in order to focus on
the next phase of his career to build a portfolio of non-executive
director roles. Jitesh will step down from the Board following the
Annual General Meeting, to be held in May 2024, following which he
will continue in the business reporting to Justin Ash, Chief
Executive Officer until February 2025 to ensure a smooth transition
for the Company and to support a number of strategic initiatives
and projects.
The Board is pleased to announce
that Harbant Samra, currently Deputy CFO for the Company, will be
appointed CFO when Jitesh steps down from the Board.
Harbant joined Spire Healthcare in
2018 as a Group Financial Controller and became Deputy CFO in 2022.
Prior to this, he was at Lloyds Banking Group for seven years,
latterly as a Finance Director, and at Deloitte for fifteen years
in its UK audit and advisory practice.
Justin Ash, Chief Executive Officer, said:
"Since joining Spire in 2018 Jitesh
has led a transformation in our financial performance, sales of two
businesses and three acquisitions, navigating us through the
pandemic period with a strong profit recovery and restructuring our
balance sheet so our leverage is the lowest it has been since we
listed.
I wish to thank Jitesh for his
significant contribution. Spire would not be in the great place it
is today without his leadership and I am sure many of you will wish
to extend your good wishes to Jitesh as he embarks on the next
stage of his career.
I am pleased that Harbant has
accepted the role of CFO. His financial, commercial and operational
experience, as well as knowledge of our business as both the
current Deputy CFO and former interim CFO, make him well placed to
take up this position and we look forward to continuing to deliver
the Company's strategic objectives."
Sir
Ian Cheshire, Non-Executive Chairman, said:
"I want to express our deep
gratitude for the significant and valuable role Jitesh has played
during his time here in helping to build Spire into a leading
independent healthcare group. While we are sorry to see him go, we
wish him well in the next phase of his career.
I also look forward to having
Harbant on board as CFO and working with him to further Spire
Healthcare's mission of making a positive difference to people's
lives through providing outstanding personalised care."
There is no further information
required to be disclosed pursuant to LR 9.6.13R.
- Ends
-
For
further information please contact:
Spire Healthcare
Angus Prentice - Director of Investor
Relations +44 (0)7974 982
512
Instinctif Partners
Damian
Reece
+44 (0)7931 598 593
Guy
Scarborough
+44 (0)7917 178 920
Registered Office and Head Office:
Spire Healthcare Group plc
3 Dorset Rise
London
EC4Y 8EN
Registered number
09084066
About Spire Healthcare
Spire Healthcare
is a leading independent healthcare group in the
United Kingdom, with 39 hospitals and over 50 clinics, medical
centres and consulting rooms across England, Wales and Scotland. It
operates a network of private GPs and provides occupational health
services to over 800 corporate clients.
Working in partnership with over
8,600 experienced consultants, Spire Healthcare delivered tailored,
personalised care to over one million inpatients, outpatients and
daycase patients, and occupational health programme clients, in
2023, and is the leading private provider, by volume, of
knee and
hip operations in the United
Kingdom. It also delivers a range of private and NHS mental health,
musculoskeletal and dermatological services.
Spire Healthcare's well-located and
scalable hospitals have delivered successful and award-winning
outcomes, positioning the group well with patients, consultants,
the NHS, GPs and Private Medical Insurance ('PMI') providers. 98%
of Spire Healthcare's inspected locations are rated 'Good,'
'Outstanding' or the equivalent by health inspectors in England,
Wales and Scotland.
Spire Healthcare is listed on the
London Stock Exchange and is a member of the FTSE 250.
Further background
Harbant joined Spire Healthcare in
2018 as a Group Financial Controller and became Deputy CFO in 2022
and having also acted as interim CFO in 2022. Prior to this, he was
at Lloyds Banking Group for seven years, latterly as a Finance
Director, and at Deloitte for fifteen years in its UK audit and
advisory practice. Harbant's financial, commercial and operational
experience, as well as knowledge of Spire's business, makes him
well-placed to succeed Jitesh Sodha as the new CFO in order to
support the continued delivery of the Company's strategic
objectives.
Jitesh Sodha will be treated in
accordance with Spire Healthcare's shareholder-approved Directors'
Remuneration Policy. Given his contribution to the Group since his
appointment in 2018, Jitesh will be treated as a good leaver. Full
details will be disclosed in the relevant Directors' Remuneration
Report.
Harbant Samra will receive a salary
of £380,000 with all other elements of his future remuneration
package in line with the Directors' Remuneration Policy. Harbant's
base salary has been set below his predecessor. It is the
Remuneration Committee's intention to keep his salary under review
in future years to ensure it continues to reflect his experience
and development in role.