TIDMDPLM
RNS Number : 1853N
Diploma PLC
16 January 2019
DIPLOMA PLC
12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX
TELEPHONE: +44 (0)20 7549 5700
FACSIMILE: +44 (0)20 7549 5715
FOR IMMEDIATE RELEASE
16 January 2019
DIPLOMA PLC
APPOINTMENT OF NEW CHIEF EXECUTIVE OFFICER
Diploma PLC ("the Company") is pleased to announce that Johnny
Thomson will join the Board on 25 February 2019 as Chief Executive
Officer.
Johnny has worked for Compass Group PLC for the last nine years.
During the past three years he was both Group Finance Director of
Compass Group PLC and a member of the Board of Compass Group PLC.
He has also been Regional Managing Director of both Latin America
and CAMEA (Central Asia, Middle East & Africa). Prior to these
roles Johnny led Compass Group's businesses in Latin America.
Johnny began his career at PricewaterhouseCoopers LLP after
which he joined Hilton Hotels in a senior executive role. He joined
Compass in 2009 and left the Group at the end of 2018. Johnny has
lived and worked in Europe, North America, Asia and across Latin
America.
As previously announced, John Nicholas, who has been interim
Executive Chairman since 29 August 2018, will relinquish his
executive responsibilities and resume his non-Executive Chairman
role immediately following this appointment.
John Nicholas, Chairman of Diploma PLC commented:
"I am delighted to welcome Johnny Thomson to Diploma. Johnny has
extensive experience of working in a decentralised business with a
core focus on service and distribution and a proven record of
supplementing organic growth with bolt on acquisitions. He brings
international experience and a successful track record for
delivering results. I look forward to working closely with him
during the next phase of Diploma's evolution and growth."
Johnny Thomson commented:
"I am excited to be joining Diploma as Chief Executive. The
business has a strong track record of customer service, growth and
shareholder returns. I look forward to leading such a strong and
experienced team in developing the Group's significant
potential."
For further information, please contact:
Diploma PLC - +44 (0)20 7549 5700
John Nicholas, Chairman
Nigel Lingwood, Group Finance Director
Tulchan Communications - +44 (0)20 7353 4200
Martin Robinson
David Allchurch
Additional Information
1. As Chief Executive Officer of Diploma PLC, Johnny Thomson
will receive an annual salary of GBP670,000 and a pension allowance
of 15% of salary. Johnny Thomson will also be eligible to
participate in the Company's Annual Bonus Plan up to a maximum of
125% of salary and Long Term Incentive Plan ("LTIP") up to 175% of
salary. Awards made under the Annual Bonus Plan and the LTIP will
not be pro-rated in the year ending 30 September 2019 for time
served.
2. To facilitate the recruitment, the award under the LTIP for
the three-year performance period ending 30 September 2021 will be
at the exceptional level of 250% of salary. In addition LTIP awards
in respect of the three year performance period beginning 1 October
2019 and 1 October 2020 will be at a similar level, subject to
Remuneration Committee discretion.
3. Johnny Thomson will be required to comply with the Company's shareholding requirements.
4. All these remuneration arrangements are consistent with the
Directors' Remuneration Policy as approved by shareholders at the
AGM on 17 January 2018.
5. No further information is required to be disclosed pursuant
to Listing Rule 9.6.13 in respect of Johnny Thomson's appointment
as a Director of the Company.
NOTE TO EDITORS:
Diploma PLC is an international group of businesses supplying
specialised technical products and services to the Life Sciences,
Seals and Controls industries.
Diploma's businesses are focussed on supplying essential
products and services which are funded by the customers' operating
rather than their capital budgets, providing recurring income and
stable revenue growth.
Our businesses then design their individual business models to
closely meet the requirements of their customers, offering a blend
of high quality customer service, deep technical support and value
adding activities. By supplying essential solutions, not just
products, we build strong long term relationships with our
customers and suppliers, which support attractive and sustainable
margins.
Finally we encourage an entrepreneurial culture in our
businesses through our decentralised management structure. We want
our managers to feel that they have the freedom to run their own
businesses, while being able to draw on the support and resources
of a larger group. These essential values ensure that decisions are
made close to the customer and that the businesses are agile and
responsive to changes in the market and the competitive
environment.
The Group employs ca. 1,800 employees and its principal
operating businesses are located in the UK, Northern Europe, North
America and Australia.
Over the last ten years, the Group has grown adjusted earnings
per share at an average of ca. 13% p.a. through a combination of
underlying growth and acquisitions. Diploma is a member of the FTSE
250 with a market capitalisation of ca. GBP1.4bn.
Further information on Diploma PLC, together with a copy of this
Announcement, is available at www.diplomaplc.com
LEI: 2138008OG17VYG8FGR19
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 rns@lseg.com or visit www.rns.com.
END
BOAEAXFSFEKNEFF
(END) Dow Jones Newswires
January 16, 2019 02:01 ET (07:01 GMT)
Diploma (LSE:DPLM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Diploma (LSE:DPLM)
Historical Stock Chart
From Apr 2023 to Apr 2024