REG - Vesuvius plc - Board Appointment

VesuviusAnnouncement

05/01/2023 12:30

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RNS Number : 8407L  Vesuvius plc  05 January 2023

 

 

 

5 January 2023

Vesuvius plc

BOARD APPOINTMENT

Mr Mark Collis to be appointed as Executive Director

and Chief Financial Officer

 

Vesuvius plc, a global leader in molten metal flow engineering and technology,
is pleased to announce the appointment of Mr Mark Collis as an Executive
Director and Chief Financial Officer of Vesuvius plc. He will join Vesuvius no
later than 4 July 2023. As previously announced he will succeed Guy Young, who
will step down from the Board on 17 February 2023.

 

Mark Collis is currently Chief Financial Officer of the Operations business of
John Wood Group PLC. He has over 20 years of senior financial experience in a
number of  international businesses including Amec Foster Wheeler plc, where
he worked from 2013-2017 and Expro International Group where he worked between
2002-2012.  Mr Collis is a Chartered Accountant qualified with the ICAEW.

 

Richard Sykes will act as the Group's Interim CFO from Guy Young's departure
and will serve in this role until Mark joins the Group. Richard is currently
Group Vice President, Business Development, and has held a number of senior
finance and business roles within Vesuvius since joining the Group in May
1991. Richard will not be appointed to the Vesuvius Board of Directors.

 

Patrick André, Chief Executive of Vesuvius said:

 

"I very much look forward to welcoming Mark to Vesuvius. His international
operational experience and leadership skills will fit very well into our
strong performance oriented culture. I have no doubt that he will be a great
leader for our finance and IT functions and a valued successor to Guy Young."

 

Carl-Peter Forster, Chairman of Vesuvius said:

 

"I am delighted that, following a rigorous selection process, Mark will join
Vesuvius as our Chief Financial Officer and Board Director. He brings with him
a wealth of experience which will complement the skills of our existing
management team. We welcome Mark and look forward to his contribution to the
continued success of the business over the coming years."

 

Mark Collis said:

 

"I am excited to be joining Vesuvius and look forward to working with the
Board and the senior management team to continue the delivery of the Group's
strategic objectives in the years ahead."

 

Statutory disclosures

 

No other disclosure obligations arise under paragraphs (1) to (6) of LR 9.6.13
R of the FCA's Listing Rules in respect of this appointment.

 

 For further information, please contact:
 Shareholder/analyst enquiries:
 Vesuvius plc                    Patrick André, Chief Executive                    +44 (0) 207 822 0000
                                 Rachel Stevens, Head of Investor Relations        +44 (0) 7387 545 271
 Media enquiries:
 MHP Communications              Rachel Farrington, Ollie Hoare, Peter Lambie      +44 (0) 203 128 8100

 

 

===== ENDS =====

 

Remuneration key terms

 

Mr Collis' service contract, remuneration and benefits will be consistent with
the Vesuvius plc Directors' Remuneration Policy in operation on his
appointment. A summary of the key terms is provided below.

 

Mr Collis' base salary will be £420,000 per annum. He will be eligible for an
annual bonus of up to 150% of base salary. He will also be eligible for an
annual award of performance shares under the company's share plan of up to
150% of base salary. Additionally, he will receive a pension allowance of 17%
of his base salary, private healthcare and other customary benefits. On
joining, Mr Collis will qualify for performance share awards under the
Vesuvius Share Plan and participation in the Vesuvius plc 2023 annual bonus
plan, with any payment made in respect of the 2023 annual bonus plan being
pro-rated for his length of employment during the 2023 financial year.

 

As a consequence of joining Vesuvius plc, Mr Collis may forfeit certain annual
and long-term incentives from his current employer, which Vesuvius plans to
compensate.

 

 

About Vesuvius plc

 

Vesuvius is a global leader in molten metal flow engineering and technology
principally serving process industries operating in challenging high
temperature conditions.

 

We develop innovative and customised solutions, often used in extremely
demanding industrial environments, which enable our customers to make their
manufacturing processes safer, more efficient and more sustainable.  These
include flow control solutions, advanced refractories and other consumable
products and increasingly, related technical services including data capture.

 

We have a worldwide presence. We serve our customers through a network of
cost-efficient manufacturing plants located close to their own facilities, and
embed our industry experts within their operations, who are all supported by
our global technology centres.

 

Our core competitive strengths are our market and technology leadership,
strong customer relationships, well established presence in developing markets
and our global reach, all of which facilitate the expansion of our addressable
markets.

 

Our ultimate goal is to create value for our customers, and to deliver
sustainable, profitable growth for our shareholders giving a superior return
on their investment whilst providing each of our employees with a safe
workplace where they are recognised, developed and properly rewarded.

 

We think beyond today to create solutions that will shape the future for
everyone.

 

 

Vesuvius plc, 165 Fleet Street, London EC4A 2AE

Registered in England and Wales No. 8217766

LEI: 213800ORZ521W585SY02

www.vesuvius.com (http://www.vesuvius.com)

 

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