Smiths Group PLC Directorate Change (7519T)
October 17 2017 - 2:00AM
UK Regulatory
TIDMSMIN
RNS Number : 7519T
Smiths Group PLC
17 October 2017
News Release
London, 17 October 2017
For immediate release
Appointment of Chief Financial Officer Designate
Smiths Group plc ("Smiths" or the "Group") is pleased to
announce today the appointment of John Shipsey as Chief Financial
Officer Designate on Wednesday 18 October 2017.
John will be appointed to the Board and take over as Chief
Financial Officer on 1 January 2018, following a thorough handover
process with current Chief Financial Officer, Bill Seeger, who will
retain full responsibility for the role until then.
For 12 years John was the Chief Financial Officer of Dyson, the
fast-growing global technology company. Prior to this, John worked
at Diageo plc in various senior finance and strategy roles across
the globe. John holds a BA from Oxford University and an MBA from
INSEAD. John qualified as a Chartered Accountant with Price
Waterhouse.
Andy Reynolds Smith, Chief Executive of Smiths Group,
commented:
"We are delighted to welcome John to Smiths Group at a very
exciting time as we continue to execute our strategy of driving
sustainable growth. John's excellent track record as Chief
Financial Officer of a progressive, international business focused
on technological innovation, makes him ideally suited to the role.
We look forward to working with John and to his positive
contribution in supporting the ongoing successful execution of the
Group's strategy."
John Shipsey, Chief Financial Officer Designate, commented:
"Smiths is a dynamic and focused company with an impressive
portfolio of businesses and strong financial characteristics. I'm
excited by the opportunity of joining Andy and the team to help
deliver on the next phase of growth while continuing to focus on
driving efficiency and world-class competitiveness throughout our
businesses."
No further information is required to be disclosed pursuant to
Listing Rule 9.6.13.
END
Notes to editors:
John Shipsey biography
John, 53, was Chief Financial Officer for Dyson, the
fast-growing global technology company, from 2005 to March 2017
during which time he was a key member of the team leading Dyson's
transformation, growing revenues to GBP2.5bn (2016) with EBITDA of
GBP0.6bn (2016) and operations in 75 countries. Prior to joining
Dyson, John worked at Diageo plc for 13 years in a number of senior
finance and strategy roles, including Finance Director for its
Iberia region and Chief Financial Officer of Schieffelin &
Somerset, a US joint venture between Diageo and LVMH. John began
his career at Price Waterhouse where he qualified as a Chartered
Accountant.
Remuneration
John's service contract, remuneration and benefits will be
consistent with the Smiths Group plc Directors' Remuneration Policy
approved by shareholders at the Annual General Meeting ('AGM') in
November 2015. A summary of the key terms is provided here.
John will receive a base salary of GBP510,000 per annum and he
will be eligible for an annual bonus of up to 150% of base salary,
one third of which will be deferred into Smiths Group plc shares.
He will also be eligible for an annual award under the Company's
Long Term Incentive Plan of up to 250% of base salary.
Additionally, he will receive a pension allowance of 25% of his
base salary, private healthcare and other customary benefits. His
service contract requires 6 months' notice of termination by him
and 12 months by the Company. There will be no buy-out award or
other payment made in connection with his recruitment.
Contact details
Investor enquiries
Jemma Spalton, Smiths Group
+44 (0)20 7004 1637
+44 (0)78 6739 0350
jemma.spalton@smiths.com
Marion Le Bot, Smiths Group
+44 (0)20 7004 1672
+44 (0)75 8315 4386
marion.lebot@smiths.com
Media enquiries
Andrew Lorenz, FTI Consulting
+44 (0)20 3727 1323
+44 (0)77 7564 1807
smiths@fticonsulting.com
Deborah Scott, FTI Consulting
+44 (0)203 727 1459
+44 (0)797 953 7449
smiths@fticonsulting.com
About Smiths Group
Smiths Group is a global technology company listed on the London
Stock Exchange (SMIN) and operates a sponsored level one ADR
programme (SMGZY). A world leader in the practical application of
advanced technologies, Smiths Group delivers products and services
for the threat & contraband detection, medical devices, energy
and communications markets worldwide. Smiths Group employs more
than 22,000 people in over 50 countries. For more information visit
www.smiths.com.
Disclaimer
This announcement contains certain statements that are
forward-looking statements. They appear in a number of places
throughout this announcement and include statements regarding our
intentions, beliefs or current expectations and those of our
officers, directors and employees concerning, amongst other things,
our results of operations, financial condition, liquidity,
prospects, growth, strategies and the business we operate. By their
nature, these statements involve uncertainty since future events
and circumstances can cause results and developments to differ
materially from those anticipated. The forward-looking statements
reflect knowledge and information available at the date of
preparation of this announcement and, unless otherwise required by
applicable law, Smiths undertakes no obligation to update or revise
these forward-looking statements. Nothing in this document should
be construed as a profit forecast.
No statement in this announcement is intended to be a profit
forecast and no statement in this announcement should be
interpreted to mean that earnings per Smiths ordinary share for the
current or future financial years would necessarily match or exceed
the historical published earnings per Smiths ordinary share. Prices
and values of, and income from, shares may go down as well as up
and an investor may not get back the amount invested. It should be
noted that past performance is no guide to future performance.
Persons needing advice should consult an independent financial
adviser.
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOALFFFIIELRLID
(END) Dow Jones Newswires
October 17, 2017 02:00 ET (06:00 GMT)
Smiths (LSE:SMIN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Smiths (LSE:SMIN)
Historical Stock Chart
From Sep 2023 to Sep 2024