Changes to Board
of Directors
The Weir Group PLC ("Weir"
or "Weir Group") announces that Andy Agg has been appointed to the
Board as an independent Non-Executive Director with effect from
today, 27 February 2024.
Andy brings significant financial
experience to the Board in light of his role as Chief Financial
Officer of National Grid plc ("National Grid"). Andy joined
National Grid in 2008 and prior to his current position held
several senior finance leadership roles across the National Grid
group, including as Group Financial Controller, UK CFO and Group
Tax and Treasury Director. Andy started his career at
PricewaterhouseCoopers and is a member of the Institute of
Chartered Accountants in England and Wales.
Weir also announces that independent
Non-Executive Director, Srinivasan Venkatakrishnan (Venkat) has
informed the Board of his intention to step down (with effect from
31 March 2024) to pursue other opportunities, and therefore will
not be seeking re-election at Weir's forthcoming annual general
meeting on 25 April 2024.
Commenting, Barbara Jeremiah, Chair of the Weir Group
said:
"I
am delighted to welcome Andy to the Weir Board. Andy has built a
long and successful career as a finance leader, and he brings to
the Board both his financial and commercial acumen, experience in
leading significant transformation programmes and significant
transactional experience. We look forward to working with Andy as
we drive forward our strategic objectives for
Weir.
I
also wish to thank Venkat for his contributions to the work of the
Board and the Audit Committee over the course of his tenure and we
will miss his counsel and advice. On behalf of the Company and the
Board, we wish Venkat all the best for the
future."
Board Committee composition
Following Andy's appointment, the
Board Committee membership is now as follows:
|
Audit Committee
|
· Stephen Young (Committee Chair)
· Srinivasan Venkatakrishnan*
· Tracey
Kerr
· Penny
Freer
· Andy
Agg
|
|
Nomination Committee
|
· Barbara Jeremiah (Board Chair and Committee Chair)
· Dame
Nicola Brewer
· Sir
Jim McDonald**
· Ben
Magara
|
|
Remuneration Committee
|
· Penny
Freer (Committee Chair)
· Dame
Nicola Brewer
· Ben
Magara
· Stephen Young
|
|
Sustainability & Technology Committee
|
· Tracey
Kerr (Committee Chair)
· Dame
Nicola Brewer
· Ben
Magara
· Andy
Agg
|
* Until 31 March 2024
** Until 25 April 2024 - as
announced on 19 December 2023, having served on the Board for nine
years, Sir Jim McDonald will not be standing for re-election at
this year's annual general meeting
There are no other matters that
require disclosure under LR 9.6.13 of the UK Listing
Rules.
Graham Vanhegan
Chief Legal Officer and Company Secretary
|
Enquiries:
|
|
|
Investors: Edward Pears
Media: Sally Jones
Citigate Dewe Rogerson:
Kevin Smith
|
+44 (0) 141 308 3725
+44 (0) 141 308 3666
+44 (0) 207 638 9571
Weir@citigatedewerogerson.com
|
About The Weir Group PLC
Founded in 1871, The Weir Group PLC
is one of the world's leading engineering businesses with a purpose
to make its mining and infrastructure customers' operations more
sustainable and efficient. Weir's highly engineered technology
enables critical resources to be produced using less energy, water
and waste while reducing customers' total cost of ownership. The
Group is ideally positioned to benefit from structural trends that
support long-term demand for its technology including the need for
more essential metals to support economic development and carbon
transition. The Group has c.12,000 employees operating in over 60
countries with a presence in every major mining region of the
world. Find out more at www.global.weir.
Weir's ordinary shares trade on the
London Stock Exchange (ticker: WEIR LN) and its American Depositary
Receipts trade over-the-counter in the USA (ticker: WEGRY).