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Appointment of non-executive director
Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000156550
Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI
As part of the dual listed company structure, Mondi Limited and Mondi plc (together
“Mondi Group”) notify both the JSE Limited and the London Stock Exchange of matters
required to be disclosed under the Listings Requirements of the JSE Limited and/or the
Disclosure Guidance and Transparency and Listing Rules of the United Kingdom Listing
Authority.
8 March 2018
APPOINTMENT OF NON-EXECUTIVE DIRECTOR
The Mondi Group is pleased to announce the appointment of Stephen Young as an
independent non-executive director with effect from 1 May 2018. He will replace John
Nicholas who will be stepping down at the conclusion of the Annual General Meetings on
16 May 2018.
John has served on the Boards, and as chairman of Mondi’s DLC audit committee, since
October 2009.
The joint chairmen, David Williams and Fred Phaswana, commented:
“The Mondi Group Boards are delighted that Stephen will be joining us. He brings strong
financial and general management experience to the Boards as well as an in-depth
understanding of working for an international industrial business and the listed
environment in which Mondi operates. His experience will benefit the audit committee
and the Boards as a whole.
We would also like to take this opportunity to thank John for the significant contribution
he has made to the Boards, in particular his focus on Mondi’s financial reporting as
chairman of the DLC audit committee and the experience he brought to this role and
more recently his contribution as Senior Independent Director. He leaves with our very
best wishes for the future”.
Stephen is a member of the Chartered Institute of Management Accountants with
experience gained across a variety of sectors, including the industrial and engineering
sectors. Stephen held a number of senior financial roles before being appointed Group
Finance Director of Meggitt plc in 2004 and then Chief Executive Officer in 2013.
Stephen stepped down from the board of Meggitt plc on 31 December 2017. He is a
non-executive director and audit committee chair at Derwent London plc and at Weir
Group plc.
With effect from 1 May 2018, Stephen will be a member of the DLC nominations and
sustainable development committees. In addition, with effect from the conclusion of the
Annual General Meetings on 16 May 2018, he will be appointed a member, and replace
John Nicholas as chairman, of the DLC audit committee, subject to shareholder approval
at the Annual General Meetings.
As a result, also with effect from the conclusion of the Annual General Meetings:
(i) Stephen Harris, an independent non-executive director, will succeed John
Nicholas as Senior Independent Director.
(ii) Dominique Reiniche will replace Stephen Harris as chair of the DLC Sustainable
Development and Mondi Limited Social & Ethics Committees.
There are no other details that require to be disclosed in respect of the appointment of
Stephen Young pursuant to Rule 9.6.13 of the UK Listing Rules.
Statutory and regulatory disclosures:
Statement pursuant to section 430(2B) of the UK Companies Act 2006: John Nicholas,
upon retirement as a director of Mondi Limited and Mondi plc, will receive a payment of
£13,836.32 representing the normal non-executive director’s fees payable in full to his
retirement date for the period from 1 April to 16 May 2018. No other remuneration
payments or payment for loss of office have been or will be made in connection with her
retirement.
Contact details:
Mondi Group
Kerry Crandon Cooper
Senior Manager – External Communication
+44 1932 826323 / +44 7881 455806
About Mondi
Mondi is a global leader in packaging and paper, employing around 26,000 people in
over 30 countries. We are 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, with clearly defined commitments across 10 action
areas. We delight our customers with our innovative and sustainable packaging and
paper solutions. Our major operations are in central Europe, Russia, North America and
South Africa. In 2017, Mondi had revenues of €7.1 billion and a return on capital
employed of 19.7%.
Mondi has a dual listed company structure, with a primary listing on the JSE Limited for
Mondi Limited under the ticker MND and a premium listing on the London Stock
Exchange for Mondi plc, under the ticker MNDI. We are a FTSE 100 constituent, and
have been included in the FTSE4Good Index Series since 2008 and the JSE's Socially
Responsible Investment (SRI) Index since 2007.
Sponsor in South Africa: UBS South Africa (Pty) Ltd
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