02:00 Thu 06 Aug 2020
Imperial Brands PLC - Directorate Change
Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42
Chief Financial Officer of
Chair
Chief Executive Officer
A further announcement will be made when a new Chief Financial Officer is appointed.
Notes:
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 |
|
| +44 (0)7970 328 093 | | +44 (0)7967 467 241 |
| +44 (0)7964 110 921 |
|
|
| +44 (0)7581 052 880 |
|
|
This information is provided by RNS, the news service of the
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