PRA Group Nominates Dame Jayne-Anne Gadhia to Board of Directors

Rhea-AI Summary

PRA Group announced the nomination of Dame Jayne-Anne Gadhia to its Board of Directors. The nomination will be reviewed at the Annual Meeting of stockholders on June 13, 2024. Gadhia, former CEO of Virgin Money, has over 30 years of experience in major financial and tech roles, including as CEO for Salesforce UK and founder of fintech company Snoop. She currently chairs several respected boards and has held notable positions, including Women in Finance Champion. Gadhia has received numerous honors, including being appointed Dame and CBE.

Positive

• Nomination of an experienced leader like Dame Jayne-Anne Gadhia enhances board expertise.
• Gadhia's background in financial services and tech could drive strategic growth for PRA Group.
• Her leadership at top companies such as Virgin Money and Salesforce adds significant value.
• Nomination aligns with PRA Group's aim to expand and drive profitable growth globally.

Negative

• Nomination pending approval at the Annual Meeting could result in uncertainty until confirmed.
• Potential for market skepticism regarding the actual impact of a new board member on company performance.

The former Virgin Money CEO is one of Britain's most prominent businesswomen

NORFOLK, Va., May 14, 2024 /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announced today that its Board of Directors has nominated Dame Jayne-Anne Gadhia as a new independent director of the company. Her nomination will be considered at the 2024 PRA Group Annual Meeting of stockholders on Thursday, June 13.

Gadhia has more than 30 years of experience with some of the U.K.'s largest financial and tech institutions. She was CEO at Virgin Money for more than 10 years and served as Salesforce's CEO for the U.K. and Ireland. In 2021 she founded, and was executive chair of, her own fintech company, Snoop, an award-winning, smart mobile app powered by open banking that helps customers manage their finances. She currently chairs the Ozone API, HMRC and Moneyfarm boards, is a senior independent director at Tate, and a senior advisor at Vanquis Bank (Nasdaq: FPLPF).

Gadhia also served as the U.K. Government's Women in Finance Champion from 2016 to 2021 and continues to support and promote the Women in Finance Charter as an advisor. She sits on the Mayor of London's Business Advisory Board and the Financial Inclusion Policy Forum.

In recognition of Gadhia's extraordinary achievements and service, the U.K. government awarded her the titles of Commander of the Most Excellent Order of the British Empire (CBE) in the 2014 New Year's Honours list; Dame in the 2019 Honours list; and Commander of the Royal Victorian Order (CVO) in the 2022 Queen's Birthday Platinum Honours list for services to the Prince's Foundation.

"It is a privilege to nominate Jayne-Anne—a highly respected industry leader and community champion whose transformational work has been recognized at the highest levels—to PRA Group's Board of Directors. We look forward to benefiting from her extensive financial services leadership experience and track record, as we continue to scale our initiatives and drive profitable growth globally," said Chair of the Board Steve Fredrickson.

About PRA Group
As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. With thousands of employees worldwide, PRA Group, Inc. companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.

Forward-Looking Statements
Statements in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are based on our current beliefs, projections, assumptions and expectations concerning future operations and financial performance. Such statements involve uncertainties and risks, some of which are not currently known to us, and may be superseded by future events that could cause actual results to differ materially from those expressed or implied in this press release. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release and are qualified in their entirety by these cautionary statements. Information regarding risks and other factors that could cause our actual results to differ materially from our expectations can be found in our most recent Annual Report on Form 10-K and in subsequent Securities and Exchange Commission filings and should be considered when evaluating the forward-looking statements in this press release. Except as required by law, we assume no obligation to update or revise these statements to reflect changes in the events, conditions, or circumstances upon which any such forward-looking statements are based.

Investor Contact:
Najim Mostamand, CFA
Vice President, Investor Relations
(757) 431-7913
IR@PRAGroup.com

News Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
(757) 641-0558
Elizabeth.Kersey@PRAGroup.com

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SOURCE PRA Group, Inc.

FAQ

Who has PRA Group nominated to their Board of Directors?

PRA Group has nominated Dame Jayne-Anne Gadhia to their Board of Directors.

When will Jayne-Anne Gadhia's nomination be considered?

Her nomination will be considered at the 2024 PRA Group Annual Meeting of stockholders on June 13.

What is Dame Jayne-Anne Gadhia's experience in the financial sector?

She has over 30 years of experience, including roles as CEO of Virgin Money and Salesforce UK.

What companies has Jayne-Anne Gadhia led?

She has led Virgin Money, Salesforce UK, and founded her own fintech company, Snoop.

What honors has Dame Jayne-Anne Gadhia received?

She has been appointed Dame, CBE, and Commander of the Royal Victorian Order for her services.