SIG PLC Steve Francis appointed Chief Executive Officer (7228K)
April 24 2020 - 2:00AM
UK Regulatory
TIDMSHI
RNS Number : 7228K
SIG PLC
24 April 2020
24 April 2020
SIG plc
(Incorporated in England and Wales)
Company Number: 00998314
LSE Share Code: SHI
ISIN: GB0008025412
LEI: 213800VDC1BKJEZ8PV53
SIG plc
Steve Francis appointed Chief Executive Officer
SIG plc ("SIG" or "the Company"), a leading supplier of
specialist building materials to trade customers across Europe,
with strong positions in its core markets as a specialist
distributor of insulation and interior products and a merchant of
roofing and exteriors products, announces the appointment of Steve
Francis as Chief Executive Officer ("CEO").
This permanent appointment results from a search process that
commenced in December 2019 and follows the announcement on 25
February 2020 that Steve would be CEO on an initial contract until
31 December 2020. This search process, led by the Chairman,
assessed both external and internal candidates and concluded that
Steve was the outstanding candidate for the role of CEO.
Andrew Allner, Chairman, commented:
"The Board is pleased to announce that Steve Francis has been
appointed permanent CEO. Steve has demonstrated strong leadership
in the most testing circumstances since his original appointment.
His ability to navigate the effects of the COVID-19 environment, at
the same time as getting the leadership team focused on the
strategic priorities to ensure the future success of SIG, has been
exceptional."
Steve Francis, Chief Executive Officer, commented:
"I am delighted to have been appointed to lead SIG. We are using
the current period to develop a revised strategy and organisational
model and I look forward to sharing the details of this revised
strategy with the announcement of our results for the year ended 31
December 2019."
Notes
Steve Francis was appointed to the SIG Plc Board as Chief
Executive Officer on 25 February 2020 until 31 December 2020.
Steve's remuneration package will consist of a basic salary and
variable incentive arrangements which are in line with SIG's
current remuneration policy and practice. The key changes to his
current arrangements are a base salary of GBP540,000, the ability
to earn a maximum bonus of 150% of basic salary and eligibility to
participate in the Long-Term Incentive Plan.
In recognition of the current crisis, and as already announced,
Steve has taken a voluntary reduction in salary of 50%. This
reduction will continue until the Company resumes normal
operations.
Steve Francis - Abridged Biography
2018 - 2019 CEO, Patisserie Holdings PLC
2016 - 2018 Group CEO, Tulip Ltd
2012 - 2015 Group CEO, Danwood Group Holdings Ltd
2008 - 2012 Group CFO/CRO then MD, Pork Division, Vion (former
Grampian) Food Group Ltd
2005 - 2007 Group CFO/COO, British Vita plc/Vita Group Holdings
Limited
2003 - 2005 Founder-Partner of MNS Partners LLC
1992 - 2001 McKinsey/Global Strategy Consulting Firms
The Company confirms that there is no change to the information
disclosed on 25 February 2020 under Listing Rule 9.6.13 in respect
of Steve Francis.
This announcement contains inside information. The person
responsible for making this notification is Kulbinder Dosanjh,
Company Secretary.
END
Contacts/Enquiries
SIG plc +44 (0) 114 285 6300
Andrew Allner, Chairman
FTI Consulting +44 (0) 20 3727 1340
Richard Mountain
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END
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