Mike Powell to be appointed Mondi Group Chief Financial Officer
26 May 2020
Mondi plc ('Mondi' or 'the Group') announces that Mike Powell will be appointed as Group Chief Financial Officer ('CFO') and as an executive director of Mondi plc. The effective date of Mike's appointment will be announced in due course. Mike succeeds Andrew King who was appointed as Mondi's Group Chief Executive Officer ('CEO') in April 2020. Mike's appointment follows a thorough recruitment process involving internal and external candidates.
Andrew King, CEO, commented:
'We are delighted that Mike will be joining the Mondi team. He has significant financial and strategic experience having been chief financial officer and an executive director of a number of large international listed companies, most recently Ferguson plc. We are confident that Mike's clear operational focus, strong leadership experience and knowledge of operating in large industrial groups across a variety of geographies will be instrumental in driving forward Mondi's strategy.'
Mike Powell commented:
'I am excited to be joining Mondi as CFO and look forward to working with Andrew, the Board and Mondi colleagues to continue to develop and grow the business, delivering Mondi's strategy and helping to ensure its long-term sustainable future.'
Mike has a Bachelor of Science in Computer Science & Accounting from the University of Manchester and is an associate of the Chartered Institute of Management Accountants. Mike started his career at Pilkington plc, spending 15 years in a variety of finance and operational roles. He went on to become Chief Financial Officer at Nippon Sheet Glass and then AZ Electronic Materials plc. He was subsequently appointed Group Finance Director at BBA Aviation plc before taking up his current role as Group Chief Financial Officer at Ferguson plc. Mike was also a non-executive director of Low & Bonar plc from December 2016 to May 2020.
Mike will be appointed to Mondi's Executive Committee with effect from his appointment to Mondi's Board.
There are no other details that require to be disclosed in respect of this appointment pursuant to Rule 9.6.13 of the UK Listing Rules.
Mondi Group Head of Strategy and Investor Relations
+44 193 282 6357
Kerry Crandon Cooper
Mondi Group Head of External Communication
+44 193 282 6323
Richard Mountain (FTI Consulting)
+44 790 968 4466
Mondi is a global leader in packaging and paper, delighting its customers and consumers with innovative packaging and paper solutions that are sustainable by design. Our business is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is embedded in everything we do. In 2019, Mondi had revenues of €7.27 billion and underlying EBITDA of €1.66 billion.
Mondi has a premium listing on the London Stock Exchange (MNDI), and a secondary listing on the JSE Limited (MNP). Mondi is a FTSE 100 constituent, and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.
Sponsor in South Africa: UBS South Africa Proprietary Limited.