8 July 2015
Wincanton plc
(‘Wincanton’ or
the ‘Group’)
Appointment of
Group Finance Director
The Board of Wincanton plc, a leading provider of supply chain
solutions in the UK & Ireland,
are pleased to announce that Tim
Lawlor will join the Company as Group Finance Director and
an executive Director on the Board from 28
September 2015.
As previously announced in April
2015, Eric Born will step
down as Chief Executive on 31 July
2015 to take up a new role outside of the sector and that
Adrian Colman, currently Group
Finance Director, will be appointed Chief Executive effective
1 August 2015.
Tim is currently Director of Finance and Strategy with Serco
Group plc, the international service company, where he has also
held a number of senior operational and group roles. Prior to
joining Serco, Tim was Group Financial Controller at Sea Containers
Limited. He is a chartered accountant and also a non executive
director of the Institute of Directors.
Adrian
Colman, Chief Executive Designate of Wincanton,
commented:
"I am delighted to welcome Tim to Wincanton. He brings
substantial experience of the business to business services
environment as well as a broad range of operational and technical
financial skills to the Group and will be an important member of
the senior team. "
There are no further disclosures required pursuant to paragraphs
9.6.11 to 9.6.13 of the Listing
Rules.
For further information please
contact:
Wincanton plc
Tel: 01249 710 000
Adrian Colman, Group Finance
Director and Chief Executive
Designate
Buchanan
Tel: 020 7466 5000
Richard Oldworth
Gabriella Clinkard
Note on remuneration:
From appointment Tim Lawlor’s remuneration will be set in
accordance with the Remuneration Policy approved by shareholders in
July 2014. The remuneration will
comprise: basic salary of £295,000, maximum bonus award of 120% of
salary (with 50% for ‘on target’ performance), and maximum LTIP
award of 100% of salary. He will receive an award in respect of the
2015/16 financial year of 100% of salary upon appointment. All
other employment benefits such as pension and car allowance will be
provided on the same basis as the current incumbent. Tim’s notice
period will be 12 months from employer and 6 months from employee.
He will be required to accrue and then maintain a minimum holding
of Company shares equivalent to 150% of salary.