Board Changes

RNS Number : 2749W

Forterra plc

10 December 2019

 

10 December 2019

Forterra plc

Board Changes

Forterra plc ("Forterra" or the "Company") announces that Shatish Dasani is stepping down from his role as Chief Financial Officer and as a Director of the Board on 31 December 2019 to pursue other opportunities. Forterra also announces that Ben Guyatt will be appointed as Chief Financial Officer on 1 January 2020 and will join the Board of Forterra at that point.

Shatish Dasani joined Forterra in December 2015 and was a key member of the leadership team which successfully took the Company through the IPO in April 2016 and implemented the strategy to drive value for shareholders. In his time with Forterra, he has overseen a significant deleveraging and strengthening of its balance sheet, whilst investing in the core businesses and following a progressive dividend policy.

Ben Guyatt has served as Director of Finance and Company Secretary of Forterra since its listing in April 2016 and, prior to this, he was Finance Director of the business at the time of its divestment by HeidelbergCement in 2015. Ben joined Hanson plc in 2006 and held a variety of senior finance and strategy roles within Hanson and HeidelbergCement. Previously Ben held financial management roles at Heath Lambert. The Board believes that Ben will bring a deep and valuable knowledge of Forterra, and the wider market, to the Board.

Justin Atkinson, Chairman, commented:

"On behalf of the Board I would like to thank Shatish for his substantial contribution to the Company over the last four years and wish him well in the next stage of his career.

"I am delighted that Ben will be joining the Board as Chief Financial Officer. Having worked with Ben since the successful IPO, I am convinced he will bring significant knowledge and experience to the Board."

Shatish Dasani commented:

"I have enjoyed tremendously my time at Forterra and would like to thank the Board and all members of staff for their support. I leave the Group in a strong financial and strategic position, with great potential to continue delivering value for all stakeholders. After four years with the Group, I believe that this is the right time for me to pursue other career opportunities. I wish the team well as they take the business on the next stage of its development."

Enquiries

FTI Consulting:	[phone]
Richard Mountain
Nick Hasell

The Company confirms that there are no other disclosures to be made in connection with Ben Guyatt's appointment under LR 9.6.13R of the Listing Rules.

Shatish Dasani's leaving arrangements have been determined in accordance with our Directors' Remuneration Policy. The statement required by s.430 (2B) of the Companies Act 2006 will be made available for shareholders on the Company's website as soon as reasonably practicable following the date on which Mr Dasani ceases to be a Director.

 

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