Last checked at 6 Mar 2018 07:00
6 March 2018
Ashtead Group plc ("Ashtead" or the "Group")
Directorate Change
Ashtead Group plc announces that Suzanne Wood, Finance Director since July 2012, has notified the Group of her intention to spend more time in the US and will be standing down as the Group's Finance Director with effect from 31 March 2018.
As part of the Group's long term succession planning it is delighted to announce that Michael Pratt will succeed Suzanne as Group Finance Director. Michael has been Deputy Group Finance Director and Group Treasurer since 2012 having joined the Group in 2003 from PricewaterhouseCoopers. Michael and Suzanne will continue to work closely together over the coming months to ensure a seamless transition.
Geoff Drabble, Chief Executive of Ashtead, commented:
"Suzanne has worked tirelessly on the Group's behalf over the last 14 years first as CFO of Sunbelt Rentals and more recently as Group Finance Director and the financial strength of Ashtead and its sound debt structure are tributes to those efforts. On behalf of the Board I would like to thank Suzanne for all her hard work.
I would like to congratulate Michael on his well-deserved promotion to Group Finance Director and look forward to continuing to work with him on successfully delivering the Group's strategy."
Enquiries:
Ashtead Group | Will Shaw | +44 (0) 20 7726 9700 |
Maitland | Becky Mitchell | +44 (0) 20 7379 5151 |
James McFarlane |
Notes to editors:
1. Suzanne Wood has given 12 months' notice to the Group with effect from 30 June 2018. However, the Group has agreed that her employment will end on 30 June 2018.
2. Michael Pratt will be paid a basic salary of £450,000 and all other pay and conditions going forwards will be in line with the existing arrangements for the finance director set out in the remuneration report in the 2017 Annual Report and Accounts.