REG - SIG PLC - Appointment of Chief Financial Officer

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RNS Number : 4850C  SIG PLC  30 April 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE
MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON
THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED
IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

FOR IMMEDIATE RELEASE

LEI:
213800VDC1BKJEZ8PV53
30 April 2026

 

SIG plc
(the "Company" or "SIG")

Appointment of Chief Financial Officer

Directorate change

The Board of SIG is pleased to announce the appointment of Simon Kesterton as
the Company's new Chief Financial Officer and an Executive Director, with
effect from 1 May 2026.

 

Simon is a highly experienced CFO who has successfully operated at C-suite and
Board level within complex multi-billion revenue organisations across multiple
end markets. He has a track record across more than 20 years of implementing
transformational strategic change and delivering market leading organic and
inorganic growth. From 2019 until December 2025, Simon was CFO at Kier Group
plc, a leading provider of construction, infrastructure and property
developments in the UK. Prior to that, he served for six years as CFO at RPC
Group plc, during Pim Vervaat's tenure as CEO. Simon also serves as a
Non-Executive Director and Chair of the Audit Committee of AIM-listed Mpac
Group plc, a provider of global packaging and automation solutions.

 

This appointment follows the announcement on 10 April 2026 that the Company
had received notice from Ian Ashton of his resignation as CFO. Assuming that
shareholders approve the resolution to be proposed at the General Meeting
expected to be held on or around 22 May 2026, which is required for the reason
set out in the notes to this announcement below, Ian will remain with the
Company to support a smooth and orderly transition to Simon as incoming CFO
until the end of May when Ian will step down as a Director and leave SIG.

 

Commenting on Simon's appointment, SIG's Chief Executive Officer Pim Vervaat
said: "The Board is delighted to announce that Simon has agreed to join SIG as
its CFO. He has demonstrable experience of improving businesses to deliver
shareholder value. The Board looks forward to working with Simon on SIG's
growth and development."

 

Save as set out below, there are no other disclosures required in respect of
the appointment of Simon Kesterton pursuant to UKLR 6.4.8 (1) to (6).

 SIG plc                                    +44 (0) 114 285 6300
 Andrew Allner     Chair
 Pim Vervaat       Chief Executive Officer

 FTI Consulting                             +44 (0) 20 3727 1340
 Richard Mountain

The person responsible for arranging the release of this announcement on
behalf of the Company is Andrew Watkins, Group General Counsel & Company
Secretary.

Notes to editors

 ·             Simon Kesterton will join SIG on a base salary of £500,000, plus an allowance
               in lieu of pension contribution of 5%. His base salary when he left Kier Group
               was £585,000 where he had a pension contribution of 7.5%.

 ·             Simon's annual bonus opportunity at SIG will be in line with the Directors'
               Remuneration Policy (the "Policy") and on joining SIG he will receive an
               initial annual Restricted Share Unit ("RSU") award equal to 125% of base
               salary, also in line with the Policy.

 ·             In addition, it has been agreed that the Company will make a one-off
               recruitment RSU award to him equal to 100% of base salary (the "Recruitment
               Award"). The making of the Recruitment Award reflects Simon's higher base
               salary and total remuneration opportunity at Kier Group and is being made as
               an incentive for him to join SIG. Pursuant to the Policy, the making of the
               Recruitment Award requires the approval of shareholders. A circular containing
               notice of a General Meeting that will be convened for the purposes of seeking
               this approval will be posted to shareholders shortly, with the General Meeting
               expected to be held on or around 22 May 2026. The Recruitment Award will vest
               on the third anniversary of its date of grant and the resulting shares will
               then be subject to the minimum holding period of two years under the Policy.

 ·             Simon has also expressed his intention to acquire shares in SIG in the six
               months following his appointment, and assuming shareholders approve the making
               of the Recruitment Award at the General Meeting, such that the value of his
               total holding of SIG shares (including 190,000 shares in SIG that he already
               holds) is approximately £250,000, being half of his gross base salary.

 ·             In the event that shareholders do not approve the Recruitment Award, Simon may
               elect to terminate his service agreement with SIG on immediate notice.

 ·             During the last five years Simon has been a director of Kier Group plc. He is
               currently a director of Mpac Group plc.

 ·             Details of remuneration payments due to Ian Ashton will be disclosed on SIG's
               website in accordance with section 430(2B) of the Companies Act 2006 upon him
               ceasing to be a Director. He will not receive any payment for loss of office.

 

 

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