Chief Financial Officer Appointment

RNS Number : 5045U

Britvic plc

30 July 2015

 



Britvic plc ('Britvic' or the 'Company')

30 July 2015

CHIEF FINANCIAL OFFICER

Further to the announcement on 20 May 2015, Britvic is pleased to announce the appointment of Mathew Dunn as Chief Financial Officer (CFO).

Mathew will join the Company later in the calendar year and following a period of overlap to ensure a smooth transition, he will succeed John Gibney who will remain as CFO through to the release of the Company's Preliminary Results on 25 November 2015. As previously advised, John will remain with the Company until his retirement in April 2016.

Mathew is currently CFO of South African Breweries Ltd, a division of SABMiller PLC in South Africa, where he has been based since 2014.  Mathew first joined SABMiller PLC in 2002 where he held various financial planning and management, as well as leadership positions before joining EMI Music Ltd as CFO of their Global Catalogue division in 2009. He returned to SABMiller in 2010 as CFO, Asia (based in China) a role which he held until his 2014 move to South Africa. 

Commenting on the appointment Simon Litherland, Chief Executive Officer, said:

"We are delighted to welcome Mathew as CFO and to the Board.  His significant experience in the international beverage sector and expertise in operational leadership will be very valuable as we continue to execute our strategy to pursue the expansion of our brands globally."

Mathew Dunn said:

"I am delighted to be joining Britvic at such an exciting time and look forward to working with my colleagues both on the Board and across the Company to deliver shareholder value."

For further information please contact:

Investors:
Rupen Shah (PLC Finance and Investor Relations Director)	[phone]
Steve Nightingale (Director of Investor Relations)	[phone]
Media:
Marisa Fitch (Corporate Affairs Manager)	[phone]
Ben Foster (Pendomer Communications)	[phone]

Appendix

Mathew Dunn - Remuneration Arrangements

Mathew's basic salary will be £340,000 and he will be eligible for an annual bonus of up to 120% of basic salary earned in the relevant year. The bonus targets, which consist of a combination of financial measures, are set by the Remuneration Committee and are appropriately stretching.

Mathew will receive a relocation allowance with a net value of £70,000.

Additionally, Mathew will receive a pension allowance of 23% of basic salary, car allowance, private healthcare and other customary benefits.

Under the Company's Executive Share Option Plan, Mathew will a receive a share award equal to 200% of his basic salary in respect of 2015/16 and he will also receive an award under the Company's Performance Share Plan equivalent to 80% of his basic salary in respect of 2015/16.  These awards are subject always to the relevant Plan rules and performance conditions.

Mathew's service contract requires 6 months' notice of termination by him and 12 months' notice by the Company.

The Company is not making any payments to Mathew in lieu of any lost bonus or benefits arising from his resignation from South African Breweries Ltd.

Mathew's service contract, remuneration and benefits will be consistent with the Company's Directors' Remuneration Policy as approved by shareholders at the Annual General Meeting in January 2015. The Policy is set out in full in the Company's 2014 Annual Report & Accounts.

Disclosure under LR 9.6.13 in respect of Mathew Dunn

(1)    details of all directorships held by the director in any publicly quoted company at any time in the previous five years, indicating whether or not he is still a director - None.

(2)    any unspent convictions in relation to indictable offences - None.

(3)    details of any receiverships, compulsory liquidations, creditors voluntary liquidations, administrations, company voluntary arrangements or any composition or arrangement with its creditors generally or any class of its creditors of any company where the director was an executive director at the time of, or within the 12 months preceding, such events - None.

(4)    details of any compulsory liquidations, administrations or partnership voluntary arrangements of any partnerships where the director was a partner at the time of, or within the 12 months preceding, such events - None.

(5)    details of receiverships of any asset of such person or of a partnership of which the director was a partner at the time of, or within the 12 months preceding, such event - None.

(6)    details of any public criticisms of the director by statutory or regulatory authorities (including designated professional bodies) and whether the director has ever been disqualified by a court from acting as a director of a company or from acting in the management or conduct of the affairs of any company - None.

 

END

 

 

BOADBGDRUGDBGUC