REG - Weir Group PLC - New Board Committee and Board Changes

WeirAnnouncement

19/12/2023 10:30

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RNS Number : 3124X  Weir Group PLC  19 December 2023

19 December 2023

 

The Weir Group PLC

Establishment of new Board Committee and Board changes

 

The Weir Group PLC (the "Company" or the "Weir Group") announces that the
Board of Directors of the Company (the "Board") has established a new
Sustainability and Technology Committee.

The Sustainability and Technology Committee will be chaired by independent
non-executive director Tracey Kerr, who will be joined by Dame Nicola Brewer,
Penny Freer and Ben Magara. The Sustainability and Technology Committee will
provide both strategic and governance oversight to explore the future of the
mining industry and the implications for the Weir Group's fully integrated
business model.

The Company also announces that, having served on the Board for nine years,
non-executive director Sir Jim McDonald will be stepping down with effect from
the conclusion of the Company's annual general meeting, which is due to be
held on 25 April 2024. Dame Nicola Brewer will succeed Sir Jim as Senior
Independent Director, and Ben Magara will succeed Dame Nicola as designated
non-executive director for employee engagement with effect from the same date.

Commenting, Barbara Jeremiah, Chair of the Weir Group said:

"Sustainability and technology are both core to Weir's purpose to enable the
sustainable and efficient delivery of the natural resources essential to
create a better future for the world. The Board and I are delighted to
dedicate additional time and resources to these strategic priorities through
the establishment of the Sustainability and Technology Committee.

I would also like to thank Sir Jim for his many years of dedication to the
Weir Group and the work of the Board since he joined us in 2015. Sir Jim's
contribution to the Board during his tenure, including in his position of
Senior Independent Director, has been both insightful and invaluable. On
behalf of the Company and the Board, we wish Sir Jim all the best for the
future and are delighted to see Dame Nicola succeed him in this role."

In light of the changes described above, the Board also has reviewed the
membership of its existing Committees. With immediate effect, the membership
of the Committees of the Board is as follows:

 Nomination Committee                     Barbara Jeremiah (Chair)

                                          Dame Nicola Brewer

                                          Ben Magara

                                          Sir Jim McDonald
 Audit Committee                          Stephen Young (Chair)

                                          Penny Freer

                                          Tracey Kerr

                                          Srinivasan Venkatakrishnan
 Remuneration Committee                   Clare Chapman (Chair)*

                                          Penny Freer (Chair Designate)*

                                          Dame Nicola Brewer

                                          Ben Magara

                                          Stephen Young
 Sustainability and Technology Committee  Tracey Kerr (Chair)

                                          Dame Nicola Brewer

                                          Penny Freer

                                          Ben Magara

 

* As previously announced on 24 October 2023, Penny Freer will become Chair of
the Remuneration Committee, and Clare Chapman will step down from the Board,
with effect from 31 December 2023.

 

For further information, please contact:

 

Graham Vanhegan

Company Secretary

Telephone: 0141 308 3771

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