Saga Names Former Superdry Boss Euan Sutherland As CEO
Over-50s tourism and insurance company Saga Plc has named former Superdry Plc top boss Euan Sutherland as its new chief executive officer, replacing Lance Batchelor, whose retirement was announced in June.
Sutherland's appointment comes just a few months after activist investor Elliott Management disclosed a 5.14% stake in the company as it tries to shake off its image as only serving "old people" and revamp its insurance business.
Sutherland left Superdry after five years at the helm in April, along with a majority of the board after founder Julian Dunkerton forced his way back into the fashion retailer.
"Alongside a new CEO for the insurance division, this adds stability," Credit Suisse analysts said, referring to Cheryl Agius's appointment as chief executive of the insurance unit last month.
Sutherland will take over from Batchelor in January.