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9 Apr 2025 07:00
9 April 2025
DCC Leadership Changes
Following DCC's announcement on 12 November 2024 that the company will focus on the energy sector, we today announce changes to the DCC Leadership Team to align our management structure with our strategy.
Kevin Lucey, who has been the Chief Financial Officer (CFO) and an executive Director since 2020, will become Chief Operating Officer (COO) with effect from the conclusion of our AGM on 10 July. In this newly created role Kevin will continue to partner with Chief Executive, Donal Murphy, in the overall management of the Group, will be responsible for driving the performance of our energy activities in line with our Cleaner Energy in Your Power strategy and will lead our regional management teams. Kevin will continue to be a member of the Board.
Conor Murphy will succeed Kevin as CFO and will be appointed as an executive Director, again from the conclusion of our AGM on 10 July. Conor joined DCC in 1998. He has held many senior leadership roles, both within our energy business and at Group level, including Director of Group Finance. He is currently the CFO of DCC Energy. Conor qualified as a Chartered Accountant with KPMG in Dublin.
Fabian Ziegler, CEO of DCC Energy, will leave DCC in July 2025. Since joining DCC in 2022, Fabian has made a considerable contribution to the development of our Cleaner Energy in Your Power strategy and the growth of our energy services business.
Commenting on the management changes, Donal Murphy, Chief Executive of DCC plc, said today:
"We announced decisive actions in November to simplify our Group, pursue our largest growth and returns opportunity in energy and unlock substantial shareholder value. In the energy sector we are building a unique, multi-energy, sustainable business. Our new Leadership Team has extensive experience in the energy sector and the commercial agility and drive to build DCC into a global energy leader. We will also drive the growth and development of the Healthcare and Technology divisions while they remain part of the Group.
I would like to thank Fabian for his significant contribution to our business during his tenure as CEO of DCC Energy and wish him every success in the future."
Commenting on the Board changes, Mark Breuer, Chair of DCC plc, said today:
"I want to acknowledge Kevin's successful track record in the financial leadership of DCC over the past five years. Kevin will now bring his extensive leadership skills to drive the performance of our energy business and to deliver on our Cleaner Energy in Your Power strategy. We have engaged in a comprehensive process over time to identify Kevin's successor, with the support of international executive search firms. Following that process, the Board was very pleased to unanimously approve the appointment of Conor Murphy as CFO. I look forward to welcoming Conor to the Board."
There are no details to be disclosed under Rule 6.4.8 of the Listing Rules of the Financial Conduct Authority in respect of Mr Conor Murphy. Details of Mr Lucey's and Mr Conor Murphy's remuneration as COO and CFO, which will be in line with DCC's Remuneration Policy, will be disclosed in our 2025 Annual Report.
Full details of the DCC Leadership Team, following the changes announced here, are available at www.dcc.ie/about-us/our-leadership-team.
Contact information
Investor enquiries: | ||
Kevin Lucey, Chief Financial Officer | Tel: +353 1 2799 400 | |
Rossa White, Head of Group Investor Relations & Comms. | Email: investorrelations@dcc.ie | |
Media enquiries: | ||
Sodali & Co (Eavan Gannon/Pete Lambie) | Tel: +44 20 7250 1446 | |
Email: DCCGroup@sodali.com | ||
About DCC plc
DCC is a leading international sales, marketing and support services group. Headquartered in Dublin, DCC plc is listed on the London Stock Exchange and is a constituent of the FTSE 100. In our financial year ended 31 March 2024, DCC generated revenues of £19.9 billion and adjusted operating profit of £682.8 million. DCC has an excellent record, delivering compound annual growth of 14% in adjusted operating profit and unbroken dividend growth of 13% while maintaining high returns on capital employed over 30 years as a public company.
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www.dcc.ie
Forward-looking Statements
This announcement may contain forward-looking statements that represent DCC's expectations for its business, based on current expectations about future events, which by their nature involve risk and uncertainty. DCC believes that its expectations and assumptions with respect to these forward-looking statements are reasonable, however because they involve risk and uncertainty as to future circumstances, which are in many cases beyond DCC's control, actual results or performance may differ materially from those expressed in or implied by such forward-looking statements.
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