Saga Charts New Course: Saga, the renowned over-50s tourism and insurance company, is undergoing a leadership transition as Euan Sutherland, the current Chief Executive Officer, annoAdd New Postunces his decision to step down. The seasoned executive, who joined Saga from fashion retailer Superdry in January 2020, has played a pivotal role in steering the company through the challenges posed by the pandemic and implementing a new strategic vision.
Succeeding Sutherland in the role of CEO is Mike Hazell, who recently assumed the position of Chief Financial Officer just a month ago. The timing of this transition indicates a seamless and strategic handover, emphasizing continuity in the company’s leadership. Hazell, at the age of 50, brings a wealth of experience and a fresh perspective to the CEO role.
Hazell, commenting on his new role, expressed his enthusiasm and commitment to continuing the execution of the group’s strategy. This strategy is designed to maximize the performance of existing businesses while concurrently addressing debt reduction—a critical aspect of Saga’s financial management.
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The announcement signals Saga’s proactive approach to leadership transitions, ensuring a smooth shift in responsibilities. To facilitate this process, Euan Sutherland will remain in a supportive capacity until January 31, contributing to a seamless transition and providing valuable insights to the incoming CEO.
Mark Watkins, currently serving as the group’s Chief Corporate Development Officer, will assume the role of Chief Financial Officer, adding further depth to the leadership team. As Saga looks ahead to a new chapter under Mike Hazell’s leadership, the focus remains on not only maintaining the company’s resilience but also positioning it for continued growth and success in the dynamic over-50s tourism and insurance market.
This leadership transition comes against the backdrop of an evolving business landscape and demonstrates Saga’s commitment to strategic succession planning to ensure stability and sustained progress in the competitive business environment. The incoming CEO’s experience and the support from the existing leadership team are expected to contribute to Saga’s ongoing journey of adaptation and growth.