PraxisIFM Group Limited has a 50% holding in the Corporate Pension Administration business of InAdmin RiskCo. The Board and Mr. Cees Krijgsman consider that this holding offers a strong potential for growth going forward. In order to fully develop this opportunity, Mr. Krijgsman has decided to step down from his role as Group CEO and return to resume his position as CEO of InAdmin RiskCo.

The Board therefore announces that Mr. Robert Fearis will assume the position of Group CEO with effective February 12, 2020. Mr. Fearis joined the Group in 1992 and has considerable knowledge and experience of the Group's core activities. Until now Mr. Fearis has been responsible for the Private Client and Corporate Services Division which represents over 60% of the Group's annual turnover.

The Board of the company further announces that Dr. Richard Morris will become Group CFO. Dr. Morris joined the Group in May 2016 and has until now been the Head of Group Financial Reporting. As part of this restructuring, the Board announces that Mr. Cees Krijgsman (Group CEO and Director) and Mr. Peter Bruges (Group CFO and Director) have resigned from the Board.

Mr. Krijgsman has resigned with immediate effect and Mr. Bruges with effect from 7 February 2020.