Persimmon PLC Appointment of Chief Financial Officer (2776Y)
13 Janvier 2022 - 8:04AM
UK Regulatory
TIDMPSN
RNS Number : 2776Y
Persimmon PLC
12 January 2022
13 January 2022
Persimmon Plc
("Persimmon" or "the Group")
Appointment of Chief Financial Officer
The Board of Persimmon Plc is pleased to announce the
appointment of Jason Windsor as Chief Financial Officer. Jason is
expected to join in the summer and will become an Executive
Director on the Board at that time. He will succeed Mike Killoran,
who announced in July 2021 that he would be retiring in mid-January
2022 after more than 25 years with the Group.
Jason is an experienced finance executive who has established a
strong track record in a variety of senior financial roles over the
last 26 years. He has been Group Chief Financial Officer of Aviva
PLC since 2019, having previously been Chief Financial Officer of
both its UK Insurance and UK Life businesses, after originally
joining the business in 2010. Prior to that he spent 15 years at
Morgan Stanley, latterly as a Managing Director within its
Investment Banking Division.
Roger Devlin, Persimmon's Chairman, said: "Jason is a
well-respected and proven FTSE 100 CFO and we are delighted to have
recruited someone of his calibre and experience as Chief Financial
Officer to complement our strong management team. In his current
role Jason has demonstrated an ability to deliver sustained
financial and strategic progress while working in a large
consumer-facing business. These skills will be highly relevant and
transferable to Persimmon as we continue our drive to become the
leading builder of good value, quality family homes in the UK. We
look forward to welcoming him to the Group in the summer.
"I would also like to thank Mike Killoran once again for his
significant contribution to the success of Persimmon over many
years. Everyone at Persimmon wishes Mike well in his
retirement."
Jason Windsor said: "I'm delighted to be joining the Group and
excited by the opportunities ahead. Persimmon has a leading
position in a critical sector of the UK economy and I'm looking
forward to working with the team as they continue their journey to
becoming Britain's best housebuilder, whilst maintaining
industry-leading financial returns."
Mike Killoran will leave the Group as planned on 14 January
2022. With Jason expected to join in the summer, Dean Finch, Group
Chief Executive, will assume interim responsibility for the finance
function. Dean will be supported by Mike Smith, Group Financial
Controller - Reporting, and Jim Wilkinson, Group Financial
Controller - Operations.
Remuneration
Jason Windsor
All remuneration arrangements for Jason are consistent with the
terms of the Directors' Remuneration Policy approved by
shareholders at the AGM in April 2020. As Chief Financial Officer,
Jason will receive an annual base salary of GBP675,000, which is
the same as his salary at Aviva, and a pension allowance of 9% of
salary in line with the contribution available for Persimmon's
salaried employees. For 2022 Jason will also be able to participate
in the Company's existing annual bonus plan up to a maximum of 175%
of salary (with 50% of any bonus earned being deferred into
Persimmon shares for three years), and the Performance Share Plan
up to 200% of salary (based on performance over three years and
subject to a further two year holding period). Jason's remuneration
is at a similar level to his existing package at Aviva. As set out
in the remuneration policy for the Executive Directors, a
proportion of Jason's remuneration will be based on non-financial
metrics including customer care and quality.
Jason will also receive awards to compensate for remuneration he
is forfeiting on leaving his previous employer. These will remain
subject to performance conditions where appropriate and reflect the
value of the forfeited awards. The vesting timeline of the
replacement awards will be the same as those which apply to the
forfeited awards. Details will be disclosed in Persimmon's
Directors' Remuneration Report for the year ending 31 December
2021.
Mike Killoran
Mike Killoran will receive his salary and benefits up until the
date of his retirement on 14 January 2022. The Remuneration
Committee has determined that Mike will be treated as a Good Leaver
and he will therefore receive any bonus earned for the year ended
31 December 2021 and outstanding Performance Share Plan awards on a
time pro-rated basis and subject to the performance conditions, in
recognition of his significant contribution to the success of the
Group over many years. Vesting will occur on the normal dates.
Details of the remuneration arrangements relating to Mike Killoran
can be found on the Group website at:
www.persimmonhomes.com/corporate/investors/corporate-governance/board-of-directors.
Jason Windsor is also a director of General Accident PLC, a
subsidiary of Aviva PLC. There are no further disclosures required
in respect of Listing Rule 9.6.13.
For further information, please contact:
Citigate Dewe Rogerson
Kevin Smith / Jos Bieneman
Tel: +44 (0)20 7638 9571
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END
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