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(Alliance News) - Paper and packaging firm Mondi PLC on Tuesday confirmed that Mike Powell will start as chief financial officer from November 1.
This follows the company's announcement in May which said that Powell would be succeeding Andrew King, who was promoted to Mondi chief executive in April. Powell also will join the Mondi board as a non-executive director.
Powell is currently chief financial officer at fellow FTSE 100 constituent Ferguson PLC, which said Tuesday it will promote Bill Brundage, currently chief financial officer of unit Ferguson Enterprises, to succeed Powell in the group CFO role.
Mondi shares were up 1.9% at ZAR359.46 each in Johannesburg on Tuesday afternoon, and up 2.9% at 1,648.60 pence in London. Ferguson was up 6.8% at 7,920.00 pence in London on Tuesday afternoon.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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