Richard Sadler appointed CEO of Lloyd's Register Group

In line with our statement in 2005, in which Executive Chairman David Moorhouse signalled his intent to relinquish executive responsibility for the Lloyd's Register Group by the end of June 2007, we are pleased to announce that Richard Sadler has been appointed as Chief Executive Officer of the Lloyd's Register Group, following a unanimous vote by our Board. The appointment will come into effect on July 1, 2007, with transfer of day-to-day operational responsibilities to Sadler beginning immediately, such that by July he will have full executive responsibility for the organisation. Moorhouse will remain a vital part of the Lloyd's Register Group as its Chairman.

Moorhouse says: "It has taken us some time to find an individual who possesses the leadership skills, imagination and knowledge we require for the future development of the Group. In Richard we are confident we have an individual to match our expectations. I believe the future will show that it was well worth the wait."

Sadler, who currently holds the position of Director of Lloyd's Register EMEA, first joined Lloyd's Register in 1976, working in the marine, industrial and offshore sectors before moving on to a number of overseas postings. He returned to the UK in 1995 to take up the position of Corporate IT Business Manager and held a number of managerial roles before becoming Marine General Manager of Lloyd's Register's London Operations in 2000. In 2004, Sadler moved to the Royal Bank of Scotland (RBS) to become Director of Ship Asset Management, a role which he fulfilled for two years before returning to Lloyd's Register.

"Richard brings a wealth of experience from his impressive career within Lloyd's Register, as well as his time at RBS, giving him a unique understanding of the technical, operational and commercial issues that the classification, management systems and asset risk management sectors face as a whole. He has an excellent leadership style that I know will be a great benefit to all within Lloyd's Register. I step down from my executive role in the full confidence that Richard will take our current position of strength and use it to deliver the organisation's vision of the future," says Moorhouse.

Sadler says: "David has done an excellent job in his time as Executive Chairman and took the hard decisions at a time when the organisation was struggling. I will soon be at the helm of an organisation which is now expected to turn over £0.5 billion this year through the provision of its risk management services, and that is due in large part to David's leadership over the past seven and a half years.

"My number one priority in the coming years is to ensure that we continue to keep Lloyd's Register at the forefront of the industries it serves and to take pride in our mission statement. Lloyd's Register has been around for nearly 250 years, and I want to lay firm foundations for the next 250."

Sadler has a BSc in Naval Architecture and a Post-Graduate Diploma of Welding Technology. He is a Fellow of the Institute of Marine Engineers and a Member of the Royal Institution of Naval Architects.

Ends.

Notes to editors

1. Lloyd's Register is an independent risk management organisation. The Lloyd's Register Group works to help improve its clients' safety, quality, environmental and business performance throughout the world, because life matters. Its expertise and activities cover shipping, railways, other land-based industries and oil and gas. The Group comprises charities and non-charitable companies, with the latter supporting the charities in their main public benefit goal.

2. A photograph of Richard Sadler is available on request from news@lr.org

For more information, contact
Dolly Robinson
Group Communications
Lloyd's Register
T +44 (0)20 7423 1682
F +44 (0)20 7423 1573
E dolly.robinson@lr.org

Lloyd's Register
71 Fenchurch Street
London EC3M 4BS, UK
T +44 (0)20 7709 9166
F +44 (0)20 7488 4796
E news@lr.org

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Services are provided by members of the Lloyd's Register Group.
Lloyd's Register, Lloyd's Register EMEA and Lloyd's Register Asia are exempt charities under the UK Charities Act 1993.