TIDMVTC
RNS Number : 3751X
The Vitec Group PLC
21 February 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
21 February 2017
The Vitec Group plc
Appointment of new Group Finance Director
The Vitec Group plc ("Vitec" or the "Group"), the international
provider of products and services for the broadcast and
photographic markets, is pleased to announce the appointment of
Kath Kearney-Croft as Group Finance Director. Kath will join Vitec
as a Director on 24 April 2017.
Most recently, Kath held the position of Acting Finance Director
at Rexam PLC until its acquisition by Ball Corporation Inc. in June
2016. Kath had been with Rexam since 2007 in a number of financial
leadership roles. Rexam was a multinational consumer packaging
company and a leading manufacturer of beverage cans.
Kath was previously with BOC Group plc for nine years,
qualifying as a Chartered Management Accountant in 2001, and
holding a number of operational financial roles in the UK and US.
Kath has an MBA with distinction from Manchester Business School
and a first class degree in Business and Management from the
University of Salford.
Paul Hayes, current Group Finance Director will be leaving Vitec
on 28 April 2017, to join Consort Medical.
John McDonough, CBE, Chairman of Vitec, commented:
"On behalf of the Board, I would like to welcome Kath to Vitec.
She brings with her impressive commercial and manufacturing
experience in market leading global industrial companies. The
combination of her proven leadership skills along with a strong
track record of delivery in successful organisations will help us
to continue to deliver our strategy to realise growth."
Kath Kearney-Croft added:
"I am delighted to be joining Vitec and to help build on its
leading position in the growing image capture and sharing market.
With its global footprint, premium products and strong balance
sheet, I am really excited about having the opportunity to work
with an ambitious team to grow the business."
There are no further matters to be disclosed in accordance with
paragraph 9.6.13 of the Listing Rules of the UK Listing
Authority.
Details of Kath's remuneration package will be published with
the 2017 AGM notice and circular to be sent to shareholders on 14
March 2017.
Disclosure of Paul Hayes' remuneration up to leaving date
The information below is provided in accordance with section
430(2B) of the Companies Act 2006 and covers the remuneration to be
paid to Paul Hayes up to and including his leaving Vitec on 28
April 2017.
All payments are in line with the Company's Remuneration Policy
for a leaver as published in the 2013 Annual Report and Accounts
and approved by shareholders at the 2014 AGM.
Salary and benefits
Paul Hayes will receive his salary, benefits and pension
allowance as usual until 28 April 2017 when he ceases to be an
employee and Director of the Company. Paul will not qualify for any
bonus to be earned for the 2017 financial year.
Share awards
LTIP Awards for 2015 and 2016 will lapse on Paul ceasing to be a
director.
Sharesave awards for 2014 and 2015 will lapse on Paul ceasing to
be a director.
Deferred Bonus Plan core award shares for 2015 and 2016 plus
associated dividend shares will be paid out to Paul upon him
ceasing to be a director.
Paul will not receive any LTIP award for 2017 and will not be
required to defer any bonus earned for 2016.
Enquiries:
The Vitec Group plc
John McDonough, CBE, Chairman
Stephen Bird, Group Chief Executive
Telephone: 020 8332 4600
MHP Communications
Tim Rowntree
Jamie Ricketts
Ollie Hoare
Telephone: 020 3128 8100
A Snapshot of The Vitec Group
The Vitec Group plc is a leading global provider of premium
branded products and services to the fast changing and growing
"image capture and sharing" market.
Vitec's customers include broadcasters, independent content
creators, photographers and corporates, and our activities
comprise: design, manufacture and distribution of high performance
products and software including camera supports, wireless systems,
robotic camera systems, prompters, LED lights, mobile power,
monitors and bags; and premium services including technical
solutions, systems integration and equipment rental for TV
production teams, film crews and enterprises.
We employ around 1,700 people across the world in ten different
countries and are organised in two Divisions: Broadcast and
Photographic.
The Vitec Group plc is listed on the London Stock Exchange with
2016 revenue of GBP376.2 million.
More information can be found at: www.vitecgroup.com.
LEI number: 2138007H5DQ4X8YOCF14
This information is provided by RNS
The company news service from the London Stock Exchange
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