13 Nov 2017 07:00
AGGREKO PLC
DIRECTORATE CHANGE
13 NOVEMBER 2017
Heath Drewett appointed Chief Financial Officer |
Aggreko is pleased to announce the appointment of Heath Drewett as Chief Financial Officer (CFO). This follows the announcement on 6 June 2017 that Carole Cran had tendered her resignation in order to become CFO of Forth Ports Ltd.
Heath is an experienced finance professional, working in the engineering, leisure, transportation and industrial sectors. He was the Group Finance Director at WS Atkins plc where, following the acquisition of WS Atkins by SNC-Lavalin, he was most recently appointed President.
Heath will be joining the Board and the Executive Team of Aggreko once he has completed his commitments with SNC-Lavalin, which is expected in the first quarter of 2018. Carole Cran will be leaving Aggreko on 31 December 2017.
Chris Weston, Chief Executive Officer, said: |
"On behalf of the Board and the Company, I am delighted to welcome Heath to Aggreko. Heath is an experienced CFO and proven leader and I look forward to working with him as we continue to position Aggreko for the future. In addition, I would like to thank Carole Cran for her substantial contribution to Aggreko and wish her all the best with her new opportunity."
EDITOR'S NOTES
Heath Drewett Biography
Heath is a commercially minded CFO with experience in the engineering, leisure & transportation and industrial sectors. Formerly Group Finance Director of WS Atkins, he gained considerable breadth co-leading its strategy and growth, and negotiating its sale to SNC-Lavalin where is he currently President of the WS Atkins business. Prior to WS Atkins, Heath spent 12 years at British Airways where he held a number of finance roles including Group Financial Controller and Head of Business Performance. Heath is a chartered accountant and started his career with Price Waterhouse, now PwC.
Remuneration
Heath Drewett will be paid an annual base salary of £460,000. In addition he will receive pension contributions of 20% of base salary, life assurance, private medical insurance and a car allowance. He will be eligible to receive an annual bonus and annual award under the Aggreko Long Term Incentive Plan. Aggreko is currently in the process of reviewing its remuneration policy and a new plan will be proposed to shareholders for approval in April 2018.
The final amount, terms of the award and any compensation for any forfeitures on leaving his current employer, will be disclosed once awarded or in the 2017 Annual Report.
About Aggreko
Around the world, people, businesses and countries are striving for a better future - a future that needs power and the right conditions to succeed.
Aggreko works round the clock, making sure everyone gets the electricity, heating and cooling they need, whenever they need it - all powered by our class-leading equipment, trademark passion, unrivalled international experience and local knowledge. From urban development to unique commercial projects and even humanitarian emergencies, we bring our expertise and equipment to any location, from the world's busiest cities to some of the most remote places on earth.
That's what has made us the world's leading provider of modular, mobile power and heating and cooling. We've been in business since 1962. We have more than 7,300 employees, operating from more than 200 locations in 100 countries. With revenues of approximately GBP 1.6bn (USD 2.6bn or Euros 2bn) in 2016, we are listed on the London Stock Exchange (AGK.L) and have our headquarters in Scotland.
Our business helps transform the lives and livelihoods of individuals, organisations and communities across the globe, in both developed and developing countries and markets.
We operate across all sectors, including oil and gas, petrochemical and refining, utilities, manufacturing, construction, mining and events.
We design and manufacture equipment specifically for these requirements in our factory in Dumbarton, Scotland and work with leading innovators to ensure our equipment offers maximum fuel flexibility, by using gas, diesel (including HFO) and renewable fuel sources.
For more information, please visit our website at: aggreko.com
ENQUIRIES TO: Louise Bryant Aggreko plc +44 7876 478 272
This announcement contains inside information.
The person responsible for arranging for the release of this announcement on behalf of Aggreko plc is Peter Kennerley, Group Legal Director & Company Secretary.