Andrew Goodsell stepping down from Saga

After 26 years with the business - 14 as chairman - Andrew Goodsell has notified the board of Saga that he intends to retire from the company during 2018.

The FTSE 250 company said its senior independent director, Orna NiChionna, would now initiate a process to appoint his successor as chairman with immediate effect.

Once a candidate is identified, it was envisaged that there would be an “appropriate period” of handover, which Goodsell indicated he would ideally like to complete by the end of May 2018.

“I have enjoyed my time at Saga immensely and am extremely proud of what we have achieved as a company,” Andrew Goodsell said.

“I have decided to step down as chairman four years after flotation in the knowledge that Saga has a very strong management team and board which will take the business forward.”

Goodsell joined Saga in 1992 and became group chief executive and chairman in 2004, and non-executive chairman in 2015, having transitioned executive responsibilities to Lance Batchelor.

“Andrew has played a key role in Saga for many years,” said group chief executive Lance Batchelor.

“I would like to thank him personally for his invaluable support and counsel since I joined the company in 2014.”

The board said Goodsell had overseen a period of “very fast growth and change” and the successful flotation of Saga on the London Stock Exchange in 2014.

“Andrew has made a very significant contribution to Saga,” said senior independent director Orna NiChionna.

“The board offers him its thanks and looks forward to continuing to work with him in the coming months.”