REG - Softcat PLC - Chief Financial Officer Appointment

SoftcatAnnouncement

02/12/2022 07:00

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RNS Number : 3454I  Softcat PLC  02 December 2022

2 December 2022

 

Softcat plc

 

Chief Financial Officer Appointment

 

 

The Board of Softcat plc ("Softcat", or the "Company"), a leading UK provider
of IT infrastructure technology and services, is pleased to announce the
appointment of Dr Kathryn (Katy) Mecklenburgh as CFO.

 

In July of this year, the Board outlined a series of steps designed to ensure
continued, effective leadership of the Company and orderly succession over the
medium term. A key element of this plan is the intention for the current CFO,
Graham Charlton, to become CEO of Softcat with effect from 1 August 2023. In
order to support this transition, a full internal and external search process
was initiated to identify a replacement CFO candidate. That process has now
successfully concluded.

 

Katy Mecklenburgh is a senior finance professional, who has held a number of
finance leadership roles across a range of industries and blue-chip firms,
including Amazon, Serco plc and Procter & Gamble. Katy is currently
Interim CFO at ASOS plc, the FTSE 250 e-commerce business. In this role, Katy
has responsibility not only for group finance and audit matters but also
commercial finance and external financial reporting. Prior to joining ASOS plc
in 2021, Katy served as Group Financial Controller at Inchcape plc, a firm
with an annual turnover of c.£8 billion across c.40 markets and territories:
a role she held since 2017.

 

CIMA qualified, Katy also holds a PhD in Respiratory Medicine and a BSC Hons
in Pharmacology, both from Edinburgh University.

 

Katy will join the Softcat Board by no later than mid-June 2023. When she
joins the Board, Graham Charlton will become CEO Designate, before he becomes
CEO on 1 August 2023, in line with the planned and previously announced
succession steps.

 

Martin Hellawell, Non-Executive Chairman said:

 

"We conducted an extensive, rigorous search for our new CFO and are delighted
to have found someone of Katy's calibre and mindset. Katy's background,
experience and affinity with our culture and workforce set her apart from
other candidates. She will make a hugely valuable addition to our Board and
Senior Leadership Team and her appointment allows us to deliver on our stated
goal of ensuring the continued, effective and long-term leadership of our
company."

 

Graeme Watt, Chief Executive Officer said:

 

"I am very excited that Katy is joining us. She is a great cultural fit and I
am sure she will thrive in the Softcat environment as well as bring a lot of
expertise and experience from other industries. She joins not only as CFO but
also as a key member of our Senior Leadership Team, and the different
perspectives she will provide will be most valuable. She has worked for a
number of technology-based companies and will have an important contribution
to make to our data and digital journey as we take Softcat to the next level."

 

Katy Mecklenburgh said:

 

"I am delighted to be joining Softcat as they continue to deliver their
successful growth strategy. Softcat is a fantastic company, and I am looking
forward to making my own contribution to a business with such a strong service
and people orientated culture."

 

 

Regulatory Disclosures

 

No details need to be disclosed under Listing Rule 9.6.13 in relation to this
appointment.

 

A further regulatory announcement will be made when the date that Katy
Mecklenburgh will join the Board has been confirmed.

 

 

For further information, please contact:

 

Softcat plc

Graeme Watt, Chief Executive
Officer                             +44 (0)1628
403 610

Graham Charlton, Chief Financial Officer

 

Media Enquiries ‐ FTI Consulting LLP

Ed Bridges/Matt
Dixon
+44 (0)20 3727 1000

 

 

This announcement has been determined to contain inside information.

 

 

 

Remuneration in respect of Katy Mecklenburgh:

All remuneration terms and payments will be in line with the current
Directors' Remuneration Policy (the Policy) and the Policy to be proposed at
Softcat's Annual General Meeting on 13 December 2022. When Katy Mecklenburgh's
appointment commences, she will receive a salary of £370,000 per annum. In
line with arrangements for current Executive Directors, the maximum variable
incentive opportunity will be 150% of salary under the Annual Bonus Plan and
150% of salary under the Long Term Incentive Plan.

 

Katy Mecklenburgh will be compensated in respect of certain variable
compensation which will be forfeited as a result of her resignation from ASOS
plc. She will receive a cash payment in lieu of a forfeited retention award
from ASOS plc. The cash payment will be based on the value of the ASOS shares
in the retention award which was due to vest on 30 April 2023. The payment
will be subject to income tax and national insurance deductions.

 

Full disclosure of these remuneration arrangements will be provided in our
2023 Annual Report on Directors' Remuneration.

 

 

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