Imperial Brands PLC Directorate Change (6597B)
03 Febbraio 2020 - 8:00AM
UK Regulatory
TIDMIMB
RNS Number : 6597B
Imperial Brands PLC
02 February 2020
IMPERIAL BRANDS PLC
3 February 2020
Chief Executive Officer and Directorate Change
Imperial Brands PLC today announces that Stefan Bomhard is to
join the Board as Chief Executive Officer, effective at a date to
be announced. Stefan will join from Inchcape plc, where he has been
Chief Executive for around five years.
Thérèse Esperdy, Chair of the Board said: "After a thorough
search process, which attracted strong, high calibre interest, the
Board is delighted to appoint Stefan as Chief Executive of Imperial
Brands. Stefan has significant experience across multiple consumer
sectors and within large multinational organisations, particularly
in brand building and consumer-led sales and marketing. He has
demonstrated strong strategic and operational leadership and has
developed a track record of delivering successful transformational
change during his tenure at Inchcape. Stefan takes on the Chief
Executive role at a significant point in Imperial's development and
the Board is confident that his experience and expertise will drive
the business forward. Stefan's initial priorities will be to
strengthen performance and enhance shareholder value."
Stefan said: "I'm delighted to be joining Imperial as the next
Chief Executive. I believe the business has a great future and I'm
looking forward to working with the Group's employees to maximise
the opportunities that lie ahead and build a stronger, more
sustainable business."
Stefan was appointed Chief Executive of Inchcape plc, a global
distribution and retail leader in the premium and luxury automotive
sectors, in 2015. Before joining Inchcape, Stefan was President of
Bacardi Limited's European region and was also responsible for
Bacardi's Global commercial organisation and Global Travel
Retail.
Stefan has a PhD in marketing and has accrued significant
experience in the consumer and retail sectors during his career. He
served as Chief Commercial Officer of Cadbury plc after being Chief
Operating Officer of Unilever Food Solutions Europe. This followed
senior management and sales and marketing roles at Diageo (Burger
King) and Procter & Gamble. Stefan is also a Non-executive
Director on the Board of Compass Group PLC.
Additional Directorate Change
On 3 October 2019 it was announced that Alison Cooper would step
down from the role of Chief Executive and from the Board once a
suitable successor was found. Given today's announcement, Alison
has stepped down as Chief Executive and as a Board director with
immediate effect.
Imperial further announces that Matthew Phillips has stepped
down as Chief Development Officer and as a Board director with
immediate effect.
Dominic Brisby currently Divisional Director, Americas, Africa,
Asia and Australasia, and Joerg Biebernick, Divisional Director,
Europe, will assume the roles of Joint Interim Chief Executive
Officers, reporting directly to Thérèse Esperdy, Non-Executive
Chair of the Board until Stefan's appointment.
On behalf of the Board Thérèse said: "I would like to thank
Alison for the enormous contribution she has made to Imperial over
her 20-year career with the Company, nine of which have been as
Chief Executive. The Board would also like to recognise the
continued leadership and commitment she has shown to the business
over recent months while the search for her successor was underway.
I would also like to thank Matthew for the significant contribution
he has made during his seven years on the Board, and during his
20-year career with Imperial."
ENDS
Investor Contacts Media Contacts
+44 (0)7970 328 +44 (0)7967 467
Peter Durman 903 Alex Parsons 241
+44 (0)7964 110 +44 (0)7967 467
Matt Sharff 921 Simon Evans 684
+44 (0)7581 052
James King 880
Note to Editors
1. As Chief Executive of Imperial Brands, Stefan Bomhard will
receive an annual salary of GBP1,269,000 and a pension allowance
equivalent to a maximum of 14% of salary and other usual benefits.
He will also be able to participate in the Company's existing
annual bonus plan up to a maximum of 200% of salary, and the
long-term incentive plan up to 350% of salary. Stefan will also
receive compensation solely based on remuneration forfeited on
leaving his previous employer. All remuneration arrangements are
consistent with the terms of the Directors' Remuneration Policy
approved by shareholders at the Annual General Meeting in February
2018 and will be set out in more detail in the Directors'
Remuneration Report which follows his appointment.
2. This announcement is made in accordance with Listing Rule
9.6.11R(1). In accordance with Listing Rule 9.6.13(1), Stefan
Bomhard has confirmed that he is currently a non-executive director
of Compass Group PLC. In accordance with Listing Rule 9.6.13(2) -
(6), Stefan has advised that he has no details to disclose.
3. The remuneration relating to the departure of Alison Cooper
and Matthew Phillips will be in line with their employment
contracts and the Directors' Remuneration Policy. The details
required to be made available pursuant to section 430(2B) of the UK
Companies Act 2006 will be published on our website as soon as
practicable.
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END
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