He will take up his appointment on 9 January 2012 at which time Sir Michael Lyons, Interim Chairman, will step back into his role as Senior Independent Director.

Mr. Shearer is an experienced non-executive director, board level adviser and turnaround specialist. A former senior partner and Executive Board member of Deloitte LLP, he led the successful restructuring of Crest Nicholson plc in 2008/9 as Chairman and of City Inn Limited in 2010/11 as Chief Strategic Adviser. He was also involved as a non-executive director in the turnaround and refinancing of Renold plc, STV Group plc and Superglass Holdings plc.

David Shearer is currently Deputy Chairman of Aberdeen New Dawn Investment Trust plc, Senior Independent Director of Martin Currie ( Holdings) Limited, Renold plc, STV Group plc and Superglass Holdings plc, a non-executive director of Mithras Investment Trust plc, and was, until early 2007, a non-executive director of HBOS plc.

Commenting on the appointment, Sir Michael Lyons said:

"I am delighted to welcome David Shearer to Mouchel as Chairman. David's extensive experience of turnaround and capital restructuring situations was a key factor in his appointment and his appointment is good news for everyone who has an interest in the early recovery of Mouchel.  I am confident David will work well with the Board and with the new executive team of Grant Rumbles and Rod Harris."

David Shearer commented:

"Mouchel has built a strong position and reputation in the UK public sector consultancy and business services market. I'm delighted to become Chairman of Mouchel and look forward to working with Grant Rumbles and Rod Harris to help bring about its recovery and contribute to its future success."