Bupa Chief Executive, Ray King, to retire

Bupa’s Chief Executive, Ray King, has announced he is to retire in 2012.

The Board will shortly commence an internal and external search process to appoint Mr King’s successor. Mr King, 58, has been Chief Executive since May 2008, and before that was Bupa’s Group Finance Director for seven years.

Lord Leitch, Bupa’s Chairman, said:

“Under Ray’s leadership, Bupa has gone from strength to strength. During his time with Bupa, he has helped to reinforce the Group’s position as a trusted healthcare partner to all our customers. He has delivered strong results, growing revenue and underlying profit year-on-year during the global economic downturn. The Group is now recognised as a major international healthcare business. Ray will leave the business in a strong position with enormous potential, and the next exciting phase of Bupa’s development will build on his legacy.

The Group operates in a sector which has excellent long-term growth prospects around the world. We are a leader in our main markets, and have great skills not only in healthcare funding, but also in aged care, chronic disease management and wellness. We believe that trends in healthcare will continue to offer us many opportunities.

The Board appreciates Ray’s strong contribution and wishes him well in his future endeavours. Our priority is to ensure a seamless transitional period, in which Ray will play a key role. A further announcement will be made once an appointment has been confirmed.”

Ray King added:

“It has been a privilege to serve as Chief Executive of Bupa and I am honoured to have worked with such talented and dedicated people. As the Group enters the next phase of its development, now is the right time to hand over to the next generation of leadership. I have been at Bupa for over a decade, as both Chief Executive and Group Finance Director, and I am very proud of all that we have achieved.”

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