Imperial Brands PLC Directorate Change (3412V)
06 Agosto 2020 - 8:00AM
UK Regulatory
TIDMIMB
RNS Number : 3412V
Imperial Brands PLC
06 August 2020
IMPERIAL BRANDS PLC
Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42
Chief Financial Officer of Imperial Brands to retire
Imperial Brands PLC today announces that Oliver Tant has decided
to retire as Chief Financial Officer and will leave the Company
once a suitable successor is found.
Chair Therese Esperdy said: "On behalf of the Board, I would
like to thank Oliver for the contribution he has made during his
seven years with Imperial."
Chief Executive Officer Stefan Bomhard and the Board are
actively progressing an external search for a successor and are
focused on recruiting a high-calibre individual to support Stefan
in strengthening performance and creating long-term value for
stakeholders.
A further announcement will be made when a new Chief Financial
Officer is appointed.
Notes:
Oliver Tant remuneration on retirement
Oliver will continue to receive his base salary, pension and
benefits through to his retirement. Thereafter, any remaining
balance of his notice period will be paid on a monthly basis,
subject to mitigation.
He remains eligible for a bonus for FY2019/20, which will be
assessed on the same performance criteria as other participants at
the year end. It will continue to be paid 50% in cash and 50% in
deferred shares. To the extent he works through FY2020/21 he will
remain eligible for a bonus, subject to performance criteria
assessed at the end of the year and pro-rated for the period of
service rendered.
Oliver will be treated as a good leaver for the purposes of
outstanding LTIP awards. As per the LTIP rules, these awards will
continue to vest on their normal vesting dates and remain subject
to their original performance conditions. To the extent the
performance conditions are met, awards will be pro-rated to reflect
the period of service rendered.
On retirement his outstanding deferred bonus awards will be
released. Oliver will not be granted any further LTIP awards even
if he is still in post at the normal grant date.
Full details of his remuneration arrangements will be disclosed
in relevant Directors' Remuneration Report in due course.
Investor Contacts Media Contacts
Peter Durman +44 (0)7970 328 093 Alex Parsons +44 (0)7967 467 241
Matt Sharff +44 (0)7964 110 921
James King +44 (0)7581 052 880
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END
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