Mondi PLC Directorate Change
March 08 2018 - 4:30AM
UK Regulatory
TIDMMNDI
Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000156550
Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI
As part of the dual listed company structure, Mondi Limited and Mondi plc
(together "Mondi Group") notify both the JSE Limited and the London Stock
Exchange of matters required to be disclosed under the Listings Requirements of
the JSE Limited and/or the Disclosure Guidance and Transparency and Listing
Rules of the United Kingdom Listing Authority.
8 March 2018
APPOINTMENT OF NON-EXECUTIVE DIRECTOR
The Mondi Group is pleased to announce the appointment of Stephen Young as an
independent non-executive director with effect from 1 May 2018. He will replace
John Nicholas who will be stepping down at the conclusion of the Annual General
Meetings on 16 May 2018.
John has served on the Boards, and as chairman of Mondi's DLC audit committee,
since October 2009.
The joint chairmen, David Williams and Fred Phaswana, commented:
"The Mondi Group Boards are delighted that Stephen will be joining us. He
brings strong financial and general management experience to the Boards as well
as an in-depth understanding of working for an international industrial
business and the listed environment in which Mondi operates. His experience
will benefit the audit committee and the Boards as a whole.
We would also like to take this opportunity to thank John for the significant
contribution he has made to the Boards, in particular his focus on Mondi's
financial reporting as chairman of the DLC audit committee and the experience
he brought to this role and more recently his contribution as Senior
Independent Director. He leaves with our very best wishes for the future".
Stephen is a member of the Chartered Institute of Management Accountants with
experience gained across a variety of sectors, including the industrial and
engineering sectors. Stephen held a number of senior financial roles before
being appointed Group Finance Director of Meggitt plc in 2004 and then Chief
Executive Officer in 2013. Stephen stepped down from the board of Meggitt plc
on 31 December 2017. He is a non-executive director and audit committee chair
at Derwent London plc and at Weir Group plc.
With effect from 1 May 2018, Stephen will be a member of the DLC nominations
and sustainable development committees. In addition, with effect from the
conclusion of the Annual General Meetings on 16 May 2018, he will be appointed
a member, and replace John Nicholas as chairman, of the DLC audit committee,
subject to shareholder approval at the Annual General Meetings.
As a result, also with effect from the conclusion of the Annual General
Meetings:
(i) Stephen Harris, an independent non-executive director, will succeed
John Nicholas as Senior Independent Director.
(ii) Dominique Reiniche will replace Stephen Harris as chair of the DLC
Sustainable Development and Mondi Limited Social & Ethics Committees.
There are no other details that require to be disclosed in respect of the
appointment of Stephen Young pursuant to Rule 9.6.13 of the UK Listing Rules.
Statutory and regulatory disclosures:
Statement pursuant to section 430(2B) of the UK Companies Act 2006: John
Nicholas, upon retirement as a director of Mondi Limited and Mondi plc, will
receive a payment of GBP13,836.32 representing the normal non-executive
director's fees payable in full to his retirement date for the period from 1
April to 16 May 2018. No other remuneration payments or payment for loss of
office have been or will be made in connection with her retirement.
Contact details:
Mondi Group
Kerry Crandon Cooper
Senior Manager - External Communication
+44 1932 826323 / +44 7881 455806
About Mondi
Mondi is a global leader in packaging and paper, employing around 26,000 people
in over 30 countries. We are fully integrated across the packaging and paper
value chain - from managing forests and producing pulp, paper and plastic
films, to developing and manufacturing effective industrial and consumer
packaging solutions. Sustainability is embedded in everything we do, with
clearly defined commitments across 10 action areas. We delight our customers
with our innovative and sustainable packaging and paper solutions. Our major
operations are in central Europe, Russia, North America and South Africa. In
2017, Mondi had revenues of EUR7.1 billion and a return on capital employed of
19.7%.
Mondi has a dual listed company structure, with a primary listing on the JSE
Limited for Mondi Limited under the ticker MND and a premium listing on the
London Stock Exchange for Mondi plc, under the ticker MNDI. We are a FTSE 100
constituent, and have been included in the FTSE4Good Index Series since 2008
and the JSE's Socially Responsible Investment (SRI) Index since 2007.
Sponsor in South Africa: UBS South Africa (Pty) Ltd
END
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