leadf
logo-loader
RNS
viewImperial Brands

Imperial Brands PLC - Directorate Change

RNS Number : 3412V
Imperial Brands PLC
06 August 2020
 

IMPERIAL BRANDS PLC

Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42

Chief Financial Officer of Imperial Brands to retire

Imperial Brands PLC today announces that Oliver Tant has decided to retire as Chief Financial Officer and will leave the Company once a suitable successor is found.

 

Chair Therese Esperdy said: "On behalf of the Board, I would like to thank Oliver for the contribution he has made during his seven years with Imperial."

 

Chief Executive Officer Stefan Bomhard and the Board are actively progressing an external search for a successor and are focused on recruiting a high-calibre individual to support Stefan in strengthening performance and creating long-term value for stakeholders.

A further announcement will be made when a new Chief Financial Officer is appointed.

 

Notes:

 

Oliver Tant remuneration on retirement

Oliver will continue to receive his base salary, pension and benefits through to his retirement. Thereafter, any remaining balance of his notice period will be paid on a monthly basis, subject to mitigation.

 

He remains eligible for a bonus for FY2019/20, which will be assessed on the same performance criteria as other participants at the year end. It will continue to be paid 50% in cash and 50% in deferred shares. To the extent he works through FY2020/21 he will remain eligible for a bonus, subject to performance criteria assessed at the end of the year and pro-rated for the period of service rendered.

 

Oliver will be treated as a good leaver for the purposes of outstanding LTIP awards. As per the LTIP rules, these awards will continue to vest on their normal vesting dates and remain subject to their original performance conditions. To the extent the performance conditions are met, awards will be pro-rated to reflect the period of service rendered.

On retirement his outstanding deferred bonus awards will be released. Oliver will not be granted any further LTIP awards even if he is still in post at the normal grant date.

 

Full details of his remuneration arrangements will be disclosed in relevant Directors' Remuneration Report in due course.

 

Investor Contacts

 

Media Contacts      

 

Peter Durman

+44 (0)7970 328 093

Alex Parsons

+44 (0)7967 467 241

Matt Sharff

+44 (0)7964 110 921

 

 

James King

+44 (0)7581 052 880

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
BOAFZGGRKVVGGZG

Quick facts: Imperial Brands

Price: -

Market: LSE
Market Cap: -
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

3 min read