Directorate Change

RNS Number : 0246A

Compass Group PLC

24 September 2015

 

COMPASS GROUP PLC

EXECUTIVE DIRECTOR CHANGES

Compass Group PLC announces that Andrew Martin, Chief Operating Officer for Europe and Japan, will step down from the Board on 1 December 2015 and that Dominic Blakemore, currently Group Finance Director, will become the Chief Operating Officer for Europe, including Turkey, from that date.  On the same day Johnny Thomson, who is currently Regional Managing Director of the Group's Latin American business, will become Group Finance Director and will join the Board as an Executive Director.

Richard Cousins, Chief Executive Officer, said

"Andy was Group Finance Director from 2004 to 2012 and played a key role in returning the Group to a strong and sustainable position. He then became Chief Operating Officer for Europe and Japan, and has expertly guided the business through a significant restructuring since 2012. This has resulted in a strong improvement in overall performance and an encouraging return to organic growth. Andy has agreed to provide support to Dominic until the end of the calendar year.  The Board recognises Andy's exceptional contribution to the Group and wishes him well for his future endeavours. The Board is also delighted to welcome Johnny Thomson as an Executive Director to succeed Dominic Blakemore".

There are no matters which require disclosure in respect of Mr Thomson in accordance with LR9.6.13 (2) to (6).

Notes for Editors

On appointment to their new roles, Dominic Blakemore and Johnny Thomson will receive base salaries of £640,000 p.a. and £575,000 p.a. respectively and benefits currently offered to Executive Directors in accordance with the Remuneration Policy approved by shareholders on 5 February 2015. Mr Thomson will also receive an allowance to assist in his relocation to the UK.

Johnny Thomson, a Chartered Accountant, joined the Group on 1 April 2009 as the Finance Director for the Group's Brazilian business.  He was appointed as the Chief Executive Officer for the Brazilian business on 1 October 2012 and from 1 February 2014 became the Regional Managing Director for the Group's Latin American business comprising Argentina, Brazil, Chile, Colombia and Mexico. Prior to joining the Group Mr Thomson was Vice President Finance for the UK and Ireland Division of Hilton Hotels and served in a variety of audit, transactional services and international/client secondments at PricewaterhouseCoopers LLP. Dominic Blakemore joined the Board in February 2012 and was appointed Group Finance Director in April 2012.

Andy Martin will receive his current salary and benefits for the transitional period to 31 December 2015 during which time he will be supporting the transition to Mr Blakemore.  Thereafter, he will receive a sum equivalent to his contractual entitlement based on 12 months' base salary, on target bonus and pre-determined benefits in lieu of notice. Mr Martin's service contract was entered into in 2007 and included the payment of on target bonus in the calculation of his contractual entitlement. Service contracts entered into since Summer 2008 do not contain any element of bonus in contractual entitlements in the calculation of payment in lieu of notice. The Remuneration Committee has also decided that it is appropriate in the circumstances to exercise its discretion to allow Mr Martin's final long-term incentive award granted on 6 February 2015 to vest in 2017, subject to the achievement of corporate performance targets, and that he will be released from his obligation to hold the vested award for two years thereafter.

Investor/Analysts:         Mark J White, General Counsel & Company Secretary

                                    Sandra Moura, Head of Investor Relations

Note to Editors

Compass Group PLC is a world-leading food and support services company, which generated annual revenues of £17.1 billion in the year to 30 September 2014.  It operates in over 50 countries, employs over 500,000 people and serves over 4 billion meals every year.  The Company specialises in providing food and a range of support services across the core sectors of Business & Industry, Healthcare & Seniors, Education, Defence, Offshore & Remote, Sports & Leisure and Vending with an established brand portfolio.

 

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