MAY 21, 2015 — Lloyd's Register CFO Alastair Marsh is to become its next CEO, succeeding Richard Sadler who has decided to step down after eight years in the role. Mr. Sadler will pass the CEO role to Mr. Marsh on October 1, 2015 and commence a formal handover period until the end of December 2015. Simon Nice, currently Group FP&A Director, will serve as Interim Group Financial Director during the transition.
Mr. Marsh joined LR as Group Financial Controller in April 2007 and was appointed as Group Finance Director in April 2008. Previously he held a number of senior financial management positions, including CFO and Company Secretary of Superscape Group plc, and prior to that held similar roles at Easynet Group plc, Laporte plc, and NCR Corporation.
Mr. Marsh also sits on the Lloyd's Register Board as Executive Director and a number of Boards of subsidiary companies.
Mr. Marsh is a graduate in Business Studies & Accounting from Edinburgh University and a member of the Institute of Chartered Accountants of Scotland. He worked with Price Waterhouse for five years, in both its Edinburgh and Brisbane offices.
Mr. Sadler said: "When I was appointed in 2007, I made a public commitment that I would serve as CEO for five years. After eight years in the role I believe it is now time to step down to pursue new challenges while I'm still young enough. It has been a great honor to serve as CEO of LR – it is a unique organization with a history, purpose and values of which I am immensely proud."
"I feel very privileged to have been asked by the LR Board to take over from Richard as CEO," said Mr. Marsh. "I am passionate about LR as an organization and I am delighted to have been given the opportunity to lead LR through what promises to be exciting and challenging times ahead for the clients and industries we serve."