Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  McBride plc    MCB   GB0005746358

MCBRIDE PLC

(MCB)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

McBride : Appointment of CEO and Chairman Succession

share with twitter share with LinkedIn share with facebook
10/04/2019 | 09:17am EDT

4 October 2019

McBride plc

Appointment of Chief Executive Officer and Chairman Succession

McBride plc, the leading European manufacturer and supplier of Contract Manufactured and Private Label products for the domestic Household and professional cleaning/hygiene markets, today announces the following Board changes.

Chief Executive Officer

The Board is pleased to announce the appointment of Ludwig de Mot as Chief Executive Officer. He will join the Board of McBride plc on 1 November 2019 and will also join the Nomination Committee.

Ludwig, a Belgian national, joins from ArcelorMittal where he served as President and Chief Executive Officer of its Canadian mining operations. Prior to ArcelorMittal, Ludwig spent 12 years in senior executive positions at the Lhoist Group, the global minerals and lime producer, including President and Chief Executive Officer of its European, North American and Asian operations, where he successfully grew the business through a combination of organic growth, restructuring and selective acquisitions. Ludwig worked for 10 years in senior management roles across Europe with SCA Packaging, and in his early career held positions at Schaeffler and Saint-Gobain.

Ludwig is currently a non-executive director of VPK Packaging Group, the privately-owned Belgian packaging company.

There is no other information required to be disclosed pursuant to paragraph 9.6.13 R of the Listing Rules.

John Coleman, Chairman, commented:

'The Board is delighted to welcome Ludwig to McBride. His commercial and operational expertise will be highly complementary to our team and he brings a wealth of international experience in manufacturing and selling in many different geographies. The Board very much looks forward to working with him as it continues to execute its strategy and create value for shareholders.'

With effect from Ludwig's commencement date, Chris Smith, currently Interim Chief Executive Officer, will resume his role as Chief Financial Officer.

Chairman succession

Following the appointment of Ludwig as the new Chief Executive, John Coleman has decided not to seek re-election at the AGM on 22 October 2019 and will stand down as a Director and Chairman following the AGM.

John Coleman said 'Following the successful recruitment of the new Chief Executive I believe this is the right time for me to step down and allow a new team to take the Company through the next phase of its development.'

As a consequence, Resolution 5 as set out in the AGM Notice is now redundant. A further announcement on John's succession will be made in due course.

Enquiries to:

McBride plc

Chris Smith, Interim Chief Executive

0161 203 7575

FTI Consulting

Ed Bridges, Nick Hasell

020 3727 1017

Note to Editors

Mr de Mot's annual remuneration package, which is in line with the Company's shareholder approved Remuneration Policy, will include the following:

· base salary of £500,000;

· bonus opportunity of up to 100% of base salary, pro-rated from his joining date for the first financial year of his appointment;

· an award of up to a maximum of 125% of base salary under the Company's Long Term Incentive Plan 2014 (LTIP). This will vest based on performance over a three year performance period as assessed by the Remuneration Committee, against TSR and eps targets. The award will also be subject to a two year holding period;

· Pension payments (cash allowance or contribution) equal to 8% of base salary, plus other standard contractual benefits.

· A non-pensionable payment of up to a maximum of £25,000 over a twelve month period for temporary accommodation and up to a further £25,000 in relation to relocation expenses and costs in line with relevant tax rules.

The Company has also agreed the following buy-out arrangements to compensate for the forfeiture of incentive compensation from Mr de Mot's current employment. The recruitment remuneration policy approved by shareholders sets out how to determine the buy-out of outstanding incentives from the previous employer, namely, that the value of any buy-out payments should be no higher than the expected value of the forfeited arrangements. In line with that policy, the buy-out of current share based incentives is either through restricted shares and performance shares (or a blend of both), dependent upon the basis of the incentives being forfeited. The timing of payments will be no earlier than the incentives forfeited.

Mr de Mot will, on the date of joining, receive a one off restricted share award worth £125,000, which will vest on the first anniversary of his date of joining subject to Mr de Mot being in the Company's employment and notice not having been given or received to terminate employment.

All net shares vesting must be retained until the Company's Share Ownership Guidelines for Executive Directors have been met.

Full details will be disclosed in the relevant Directors' Remuneration Report.

Disclaimer

Mcbride plc published this content on 04 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2019 13:16:02 UTC

share with twitter share with LinkedIn share with facebook
Latest news on MCBRIDE PLC
07/10Supreme Court ruling on Oklahoma tribal land raises questions for oil industr..
RE
07/06U.K. Sanctions Saudis, Russians for Human-Rights Abuses
DJ
06/29SPECIAL REPORT - INTO THE FOG : How Britain lost track of the coronavirus
RE
06/18EXCLUSIVE : Who's in charge at Nissan? COO's allies push to give him shared CEO ..
RE
06/18ASHWANI GUPTA : Who's in charge at Nissan? COO's allies push to give him shared ..
RE
02/20U.S. Vows Aid for Fast-Growing Ethiopia's Private Sector -- Update
DJ
01/23U.N. Suggests Bezos' Phone Was Hacked Using Saudi -2-
DJ
01/23U.N. Suggests Bezos' Phone Was Hacked Using Saudi -2-
DJ
01/14McBride forecasts annual profit below estimates on poor UK performance
RE
2019Turkey Says it Might Retaliate Over New U.S. Sanctions
DJ
More news
Financials
Sales 2020 712 M 895 M 895 M
Net income 2020 8,10 M 10,2 M 10,2 M
Net Debt 2020 113 M 142 M 142 M
P/E ratio 2020 14,2x
Yield 2020 2,72%
Capitalization 114 M 143 M 143 M
EV / Sales 2019
EV / Sales 2020 0,32x
Nbr of Employees 3 289
Free-Float 97,6%
Chart MCBRIDE PLC
Duration : Period :
McBride plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MCBRIDE PLC
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 75,00 GBX
Last Close Price 62,40 GBX
Spread / Highest target 44,2%
Spread / Average Target 20,2%
Spread / Lowest Target -3,85%
EPS Revisions
Managers
NameTitle
Christopher Ian Charles Smith Chief Executive Officer & Director
Jeffrey M. Nodland Chairman
David Thomas Rattigan Finance Director
Sandra Turner Independent Non-Executive Director
Neil Simon Harrington Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
MCBRIDE PLC-29.49%143
THE CLOROX COMPANY50.14%28 428
PT UNILEVER INDONESIA TBK-3.87%21 168
CHURCH & DWIGHT CO., INC.20.10%20 195
LION CORPORATION25.93%7 220
KOBAYASHI PHARMACEUTICAL CO., LTD.0.65%6 828