REG - Johnson Matthey PLC - Board Changes

Johnson MattheyAnnouncement

10/02/2025 07:00

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RNS Number : 4577W  Johnson Matthey PLC  10 February 2025

10(th) February 2025

 

Johnson Matthey Plc

(the Company)

 

Board Changes

This announcement contains inside information

 

Johnson Matthey is today announcing an update on its Board, as the Company
enters the next phase of its transformation strategy to deliver a step change
in cash generation, higher returns on capital and sustainable shareholder
value.

 

 

Appointment of Richard Pike as Chief Financial Officer

 

Johnson Matthey is pleased to announce that Richard Pike has been appointed as
Chief Financial Officer Designate with immediate effect and will join the
Company's Board on 1(st) April 2025. Richard succeeds Stephen Oxley who will
continue as Chief Financial Officer until 31(st) March 2025, ensuring an
orderly transition.

 

Richard joins the Company from DS Smith Plc where he has been Group Finance
Director since March 2023. He brings strong financial leadership and a deep
understanding of manufacturing and recycling industries. Richard also has
significant experience of enhancing cash flow and improving cost efficiencies.

 

Richard previously held the roles of Chief Financial Officer at Biffa plc and
as Group Finance Director of AB Sugar and Managing Director of British Sugar
(both parts of ABF plc), as well as Chief Financial Officer of Boparan
Holdings Limited. Earlier in his career Richard trained and qualified as a
chartered accountant with PwC, and thereafter went on to hold a variety of
roles at Scapa Group plc, Pilkington plc and Manchester Airports Group.

 

Commenting on Richard's appointment, Liam Condon, Chief Executive of Johnson
Matthey said: "I am really pleased to welcome Richard to JM as our CFO.
Richard's proven track record of financial leadership will be critical as we
continue to execute our transformation strategy, with a strong focus on
delivering cash generation and creating value for all our stakeholders."

 

Richard Pike said: "I am delighted to be joining JM and am excited about its
future. I am looking forward to working with Liam, the Board and the entire JM
team to drive our financial performance and deliver on our strategic
objectives."

 

Richard's remuneration will be in line with Johnson Matthey's Directors'
Remuneration Policy as set out in our Annual Report.

 

 

Commencement of search for a new Chair

 

Following nearly seven years as Chair of Johnson Matthey, Patrick Thomas has
informed the Board that he does not intend to seek re-election at the
Company's AGM on 17(th) July 2025 and so will step down from the Board and his
position as Chair immediately following the AGM.

 

Johnson Matthey's Nomination Committee has commenced a search for Patrick's
successor as Chair and a further update will be provided in due course.

 

Patrick Thomas, Chair of Johnson Matthey, said: "It has been my great
privilege to serve as Chair of JM since 2018 and to oversee the Company's
progress in executing its transformation strategy. It is now the right time to
hand over to a new Chair who can guide the Company through the next phase of
its strategy. JM is a great company with exciting prospects, and I wish the
team every success."

 

The Board and Nomination Committee regularly reviews the effectiveness and
make up of the Board and, as part of that, will continue to consider
opportunities to augment the Board with new directors to reflect the group's
transformation strategy.

 

 

 

Disclosures required pursuant to UKLR 6.4.8R of the Listing Rules of the
Financial Conduct Authority (including directorships held in other publicly
quoted companies at any time in the previous five years)

 

From June 2023 until February 2025, Richard Pike was a director of DS Smith
plc.

 

From September 2018 until March 2023, Richard Pike was a director of Biffa
plc.

 

Other than as stated in this announcement, there are no other matters that
require disclosure under 6.4.8R of the UK Listing Rules.

 

Termination arrangements in respect of Stephen will be in line with Johnson
Matthey's Directors' Remuneration Policy as set out in our Annual Report and,
in accordance with section 430(2B) of the Companies Act 2006, will be
disclosed on the Company's website in due course and in the Johnson Matthey
2025 Annual Report and Accounts.

 

The person responsible for the release of this announcement is Simon Price,
General Counsel and Company Secretary of Johnson Matthey Plc.

 

 

 

 

ENDS

 

 Enquiries:
 Simon Price       General Counsel and Company Secretary        +44 20 7269 8052
 Martin Dunwoodie  Director of Investor Relations and Treasury  +44 20 7269 8241

 

Johnson Matthey Plc is listed on the London Stock Exchange (JMAT)

Registered in England & Wales number: 00033774

Legal Entity Identifier number: 2138001AVBSD1HSC6Z10

 

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