31 Jan 2005

Changes to board at Egg plc

Founder Mike Harris retires from Egg

Egg plc ("Egg") announces today that its pioneering founder and former Chief Executive Mike Harris will step down from the Egg Board and his role as Executive Vice Chairman following the company’s next Annual General Meeting on 16th May 2005. Mike will continue to provide strategic advice to the Egg Executive up until he retires from the company at the end of January 2006.

Mike joined Prudential plc as Chief Executive Officer of Prudential Banking plc in July 1995. In October 1998 he successfully created and launched Egg, the UK’s first ever online bank, attracting £5 billion funds under management in just 6 months and transforming the UK financial services market. On 1 January 2001 he stepped down as Chief Executive of Egg and took on the role of Executive Vice-Chairman of the Board.

Before joining Prudential Mike was the founder and Chief Executive Officer of First Direct, the UK’s first direct banking operation. He also served for four years as a main board director of Cable and Wireless, one of the UK’s largest public companies, as CEO of Mercury Communications plc.

Commenting on Mike’s decision to retire, Roberto Mendoza, Chairman of Egg plc, said: “Mike has been largely responsible for developing the vision of Egg, an organisation devoted to transforming the financial services industry for the benefit of the consumer.

“I will of course be sad to see Mike leave Egg and, on behalf of the Egg Board and all Egg People, I would like to thank him warmly for his great contribution over the past 6 years. We wish him all the best in his future endeavours.”

Mike Harris commented:
“I am delighted to have played a part in what I consider to be one of the most innovative and important businesses in financial services today. Egg has been at the forefront of radical change in the UK banking sector and I believe that with its dynamic management team and scale of ambition, it will continue to change the way consumers manage and feel about their money.

“I am now looking forward to stepping down from an Executive role in a public company and will seek future opportunities in strategic advisory roles and in helping to create high growth companies in the private equity domain.”

Ends

For further information:
Media: Analysts / Investors:
Egg Media Relations: 020 7526 2600 Kieran Coleman: 020 7526 2648 /
Mobile: 07711 717 358
Mark Maguire: 020 7526 2561 or
07771 808 624
   
Emma Byrne: 020 7526 2565 or
07775 657 241
   

Notes to editors:

-Pictures / further information available on request.

About Egg:

  1. Egg plc is the world’s largest pure online bank, providing financial services products through its Internet site and other distribution channels.
  2. Egg plc floated on 12 June 2000 and is listed on the London Stock Exchange. Prudential plc holds 78% of the share capital.

Jackson National Life Insurance Company

Prudential

You are about to enter the website of our US affiliate Jackson National Life Insurance Company, an indirect subsidiary of Prudential plc of the United Kingdom.

Proceed to the site

Prudential

If you are looking for an affiliate of Prudential Financial, Inc, whose principal place of business is in the United States of America.

Proceed to the site

Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).

PPM America

Prudential

You are about to enter the website of our US affiliate PPM America, an indirect subsidiary of Prudential plc of the United Kingdom.

Proceed to the site

Prudential

If you are looking for an affiliate of Prudential Financial, Inc, whose principal place of business is in the United States of America.

Proceed to the site

Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).

  • Load
  • More

For M&G and Prudential UK customers and policyholders:

In October 2019, Prudential plc separated its UK operations and, as a result of this separation, Prudential UK is now owned by M&G plc. The M&G plc group is a separate, independent group and as such we are not able to help any M&G or Prudential UK customers or policyholders.

Therefore, to find the best way to make contact, please visit www.pru.co.uk/contact-us

For further information on the M&G plc group, please visit the M&G website: www.mandg.com