Generation Development Group Limited announced that the joint Chief Executive Officers and Managing Directors of its life subsidiary Generation Life Limited, Ms Catherine van der Veen and Ms Lucy Foster, have tendered their resignations and will leave Generation Life on 31 January 2020 due to personal circumstances. The Board wishes to advise that Mr. Grant Hackett will step down as Chief Executive Officer of GDG effective 31 January 2020 and assume the role of Chief Executive Officer and Managing Director of Generation Life from 1 February 2020. Mr. Hackett will continue to serve on the Board of Ascalon Capital Managers Limited and its subsidiary.

Mr. Rob Coombe will continue as Executive Chairman of GDG and the role of GDG Chief Executive Officer will remain vacant and will not be filled.