SIG Regulatory News (SHI)

29 May 2020

SIG plc

(Incorporated in England and Wales)

Company Number: 00998314

LSE Share Code: SHI

ISIN: GB0008025412

LEI: 213800VDC1BKJEZ8PV53

Appointment of Chief Financial Officer and Non-Executive Director

SIG plc ("SIG" or "the Company"), a leading supplier of specialist building materials to trade customers across Europe, announces two Board appointments, Ian Ashton as permanent Group Financial Officer (CFO) and Director and Simon King as a Non-Executive Director with effect from 1 July 2020.

Ian will join us from Low & Bonar plc, where he has served as Group Chief Financial Officer. Prior to that, he was Chief Financial Officer of Labviva LLC, a US-based technology company. Ian worked for twenty years at Smith & Nephew plc until December 2017, undertaking various financial roles of increasing seniority in the UK, the US and Asia. His last role was Chief Financial Officer, Global Operations, and prior to that Ian served as Chief Financial Officer of their Advanced Surgical Devices Division. Ian is a qualified chartered accountant and began his career at Ernst & Young.

Ian replaces Kath Kearney-Croft, who assumed the role of Interim Chief Financial Officer on 25 February 2020. 

Simon has over 35 years' experience leading international businesses. Most recently he served on the Travis Perkins Executive Board and held the position of Chief Operating Officer of Wickes. Prior to that Simon held various operational roles at Walmart, Savola Group and Tesco.

Andrew Allner, Chairman, commented, " Ian is a highly experienced senior executive with a strong track record of driving change and is an extremely valuable addition to the team as we pursue our new strategy for growth. On behalf of the Board, I would like to thank Kath for her dedication and leadership through this challenging time and we wish her all the best for the future.

The Board is delighted to have appointed both Simon King and Ian Ashton to SIG. Simon's extensive hands-on experience will be invaluable in our efforts to build on SIG's leading market positions and return the business back to profitable growth."

Ian Ashton, commented, "I am delighted to have been appointed CFO of SIG. The Group retains a significant presence in a number of high growth end-markets, with leading positions across Europe. I look forward to working alongside Steve Francis and the rest of his management team to deliver the new strategy and drive a return to sustainable profitable growth."

Notes

Ian's remuneration package will consist of a basic salary and variable incentive arrangements which are in line with SIG's current remuneration policy and practice. In summary, a base salary of £375,000, the ability to earn a maximum bonus of 100% of basic salary and eligibility to participate in the Long-Term Incentive Plan.

There are no further details to be disclosed for Simon King and Ian Ashton in respect of Listing Rule 9.6.13.

This announcement contains inside information. The person responsible for making this notification is Kulbinder Dosanjh, Company Secretary.

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