P&O Ferries board retirement

P&O announces that Russ Peters is to retire as Chief Executive Officer of P&O Ferries on 30 April.

He will step down as a P&O Main Board Director on the same day. Russ will be succeeded as Chief Executive Officer of P&O Ferries by Helen Deeble who is currently Chief Operating Officer of P&O Ferries.

Russ Peters joined P&O in 1987 as Freight Director of P&O European Ferries. He became Managing Director of P&O North Sea Ferries in 1990, Managing Director of P&O Ferries Dover in 1994 and Managing Director of P&O Stena Line in March 1998.

He has been a Main Board Director of P&O since he was appointed to his present position in 2002.

Commenting on the announcement, P&O Chairman Sir John Parker said "Russ has had a distinguished career in the ferries industry. During his time with P&O he successfully brought together the P&O Ferries and Stena Line operations on the Short Sea and subsequently led the integration of the different routes of P&O Ferries into a single business with its headquarters in Dover.

He has achieved a lot for P&O and we wish him well for the future." "I am pleased to welcome Helen Deeble as the new Chief Executive Officer of P&O Ferries. Helen has considerable experience of the industry and has worked closely with Russ. She played a key role in implementing the Fundamental Business Review last year and helping to restore P&O Ferries to sustained profitability."

Helen Deeble is a chartered accountant and began her career with Sears plc. She joined Stena Line in 1993, becoming Finance Director in 1996. Helen was appointed Finance Director of P&O Stena Line in 1998 and Chief Operating Officer of P&O Ferries in 2004.