REG-Halfords Group PLC Halfords Group PLC: Directorate Change - Chief Financial Officer

HalfordsAnnouncement

13/10/2021 07:05

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   Halfords Group PLC (HFD)
   Halfords Group PLC: Directorate Change - Chief Financial Officer

   13-Oct-2021 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement that contains inside
   information according to REGULATION (EU) No 596/2014 (MAR), transmitted by
   EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   13 October 2021

                               Halfords Group plc

                                        

                  Directorate Change - Chief Financial Officer

    

    

   The Board of  Halfords Group  plc ("Halfords"  or the  "Group"), the  UK's
   leading provider of Motoring and Cycling products and services, is pleased
   to announce the appointment of Jo Hartley as Executive Director and  Chief
   Financial Officer. Jo will join the business in mid-April 2022,  replacing
   Loraine Woodhouse,  who  has announced  her  intention to  retire  from  a
   full-time plc role. In order to  ensure a smooth transition, Loraine  will
   remain with the business and in post until the FY22 Preliminary Results in
   June 2022, at which point  she will step down from  her role and pass  her
   responsibilities to Jo. 

    

   Jo Hartley joins Halfords from Virgin Active, where she has been Group CFO
   since 2015. Jo began her career at Deloitte UK, before moving to Tesco  in
   1999. At Tesco, Jo performed a number of roles, including Finance Director
   for convenience stores, operations and then property for Tesco UK,  before
   spending time as  CFO of  Tesco Poland  and latterly  leading the  finance
   function for Tesco UK as Interim Finance Director.

    

   Keith Williams, Chairman of Halfords, commented:

   "On behalf of the Board,  I am delighted to  be welcoming someone of  Jo's
   calibre to Halfords. Her experience and expertise will be invaluable as we
   look to  build on  the strong  momentum within  the business,  while  also
   navigating our way through the current challenges and uncertainties of the
   wider trading environment. I would also like to express the Board's thanks
   to Loraine for her commitment, professionalism and dedication to  Halfords
   during her time at the Group; I'm sure  she will do well as she pursues  a
   non-executive career."

    

   Jo Hartley, incoming CFO, commented:

   "Halfords is a  great business with  a strong brand  proposition and I  am
   excited about  the prospect  of helping  the Group  achieve its  ambitious
   plans in the strategically important  areas of motoring services,  digital
   and B2B. I am looking forward to  getting started and to working with  the
   team on  the  many initiatives  that  are currently  underway  across  the
   business."

    

   Loraine Woodhouse, outgoing CFO, commented:

   "I have  very  much enjoyed  my  time as  Halfords'  CFO but,  after  much
   deliberation, have decided that the time is right for me to step down from
   a full-time plc  role, allowing me  to pursue non-executive  opportunities
   whilst also spending more time with family. I wish Jo all the very best as
   my successor and am  pleased to be leaving  Halfords in a strong  position
   from which to execute its service-led growth strategy."

    

   Halfords Group plc will publish its Interim Results for the 26 weeks to 1
   October on Wednesday 10 November 2021.

    

   Enquiries

   Investors & Analysts (Halfords) 

   Loraine Woodhouse, Chief Financial Officer  

   Neil Ferris, Corporate Finance Director  

   Andy Lynch, Head of Investor Relations +44 (0) 7483 457
   415                                                   

    

   Media (Powerscourt) +44 (0) 20 7250 1446

   Rob Greening halfords@powerscourt-group.com

   Nick Hayns

   Harold Amoo

    

    

    

   Regulatory disclosures

    

   In accordance with Rule 9.6.13R of  the Listing Rules of the UK  Financial
   Conduct Authority, Halfords confirms the following information in  respect
   of Jo Hartley, who will become a director of the Company in June 2022.

    

   In accordance  with 9.6.13  (3), Ms  Hartley was  a director  of a  Virgin
   Active Holdings Limited ("Virgin Active") and two of its subsidiaries,  on
   12th May 2021, when  Restructuring Plans with  certain of their  creditors
   were sanctioned. Restructuring plans were introduced into Part 26A of  the
   Companies Act 2066 in June 2020 by the Corporate Insolvency and Governance
   Act 2020.

    

   There are no other matters in  respect of Ms Hartley requiring  disclosure
   under UK  Listing  Rules  9.6.13(1)  to 9.6.13  (2)  and  9.6.13  (4)  to 
   9.6.13(6) inclusive.

    

   Summary of Jo Hartley's remuneration

    

   Jo Hartley's base salary  will be set at  £395,000 per annum, her  pension
   allowance will be 3% of base salary which is in-line with the pension rate
   available to  the majority  of  the workforce  and  her benefits  will  be
   in-line  with  our  current  policy.  In  FY23,  the  first  year  of  her
   appointment, her annual bonus and PSP awards will be set at 125% and  150%
   of base  salary respectively.   This is  below the  maximum  opportunities
   under Halford's policy and below the incentive opportunities for Halford's
   current CFO.  From  FY24, the Committee  intends, subject to  satisfactory
   individual performance, to increase Jo's annual bonus opportunity to  150%
   of base salary  and her  PSP award  to 200%  of base  salary in-line  with
   Halfords'  shareholder  approved   Directors'  Remuneration  Policy.    On
   joining, Halfords will make a  payment to Jo to  replace a cash bonus  she
   was required  to  repay  on  cessation of  employment  from  her  previous
   employer.

    

   About Halfords Group plc

    

   Halfords is the UK's leading provider of motoring and cycling services and
   products. Customers shop  at 404  Halfords stores,  3 Performance  Cycling
   stores (trading  as Tredz  and Giant),  374 garages  (trading as  Halfords
   Autocentres, McConechy's  and Universal)  and have  access to  166  mobile
   service vans (trading as  Halfords Mobile Expert and  Tyres on the  Drive)
   and 192  Commercial vans.  Customers  can also  shop at  halfords.com  and
   tredz.co.uk for pick up at their  local store or direct home delivery,  as
   well as booking garage services online at halfords.com.

    

   www.halfords.com                                       1 www.tredz.co.uk  
    2 www.halfordscompany.com                     

    

    

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   ISIN:           GB00B012TP20
   Category Code:  BOA
   TIDM:           HFD
   LEI Code:       54930086FKBWWJIOBI79
   OAM Categories: 2.2. Inside information
   Sequence No.:   124183
   EQS News ID:    1240312


    
   End of Announcement EQS News Service

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