Board Appointment and Senior Management Change

RNS Number : 8080U

Glanbia PLC

03 January 2013

 



BOARD APPOINTMENT AND SENIOR MANAGEMENT CHANGE

3 January 2013 - Glanbia plc ('Glanbia'), the global nutritional solutions and cheese group, announces further to its announcement on 10 December 2012, of the appointment of Brian Phelan as an Executive Director with responsibility for Group Development and Global Cheese effective 1 January 2013, that Mr. Phelan has notified the Company today (3 January 2013), pursuant to Section 53 of the Companies Act, 1990 as extended by Section 64 of the Companies Act 1990, that he is interested in the following in Glanbia plc:

1	39,659 ordinary shares of €0.06 each.
2	100,000 options under the 2002 Long Term Incentive Plan, at an exercise price of €2.47 per share, which are exercisable up to 3 March 2014.
3	75,000 options under the 2002 Long Term Incentive Plan, at an exercise price of €2.725 per share, which are exercisable up to 8 December 2014.
4	As a participant of the 2002 Long Term Incentive Plan, Mr. Phelan is eligible for a share award of 10% of the 75,000 ordinary shares that he continues to hold following the second anniversary of the exercise of the share option referred to in 3 above.
5	Award in respect of up to 80,000 ordinary shares of €0.06 each may vest under the 2008 Glanbia plc Long Term Incentive Plan - earliest date for vesting - 25 May 2013.
6	Award in respect of up to 50,000 ordinary shares of €0.06 each may vest under the 2008 Glanbia plc Long Term Incentive Plan - earliest date for vesting -28 March 2014
7	Award in respect of up to 46,500 ordinary shares of €0.06 each may vest under the 2008 Glanbia plc Long Term Incentive Plan - earliest date for vesting - 30 August 2015.

Glanbia also confirms further to its announcement on 26 September 2012 that Kevin Toland, Chief Executive Officer and President of Glanbia USA and Global Nutritionals, will resign effective 5 January 2013.

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For further information contact

Glanbia plc [phone]

Geraldine Kearney, Corporate Communications Director + 353 87 231 9430

 

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