TIDMYNGA
RNS Number : 8683G
Young & Co's Brewery PLC
11 August 2016
This announcement contains inside information
Young & Co.'s Brewery, P.L.C. ("Young's" or "the
Company")
Board changes
Young's today announces the following changes to its Board of
directors.
Steve Robinson, currently Head of Finance within Young's, will
join the Board and succeed Peter Whitehead as Finance Director on 6
September 2016. Peter will step down from the Board at that
date.
Tracy Read, currently the Company's Director of People, will be
promoted to the Board also on 6 September 2016.
Steve joined Young's in June 2009 and has been Head of Finance
since September 2013. He qualified as a Chartered Accountant with
Deloitte and, before joining Young's, held a number of finance
roles at The Walt Disney Company.
Tracy joined Young's in January 2015. Before that, during eight
years at pub company The Orchid Group, she held a number of roles,
most recently Head of People.
Patrick Dardis, Chief Executive, said:
"We are all extremely grateful to Peter. He has been a hugely
effective Finance Director for us for almost two decades, a
transformational period during which time a great deal has been
achieved.
It is to Peter's great credit that he has built a strong finance
function that has produced a natural successor in Steve Robinson.
Steve is well qualified to take on the role, with an intimate
knowledge of our business and our industry.
Tracy's elevation to our Board recognises the importance we
place on having the right people and culture throughout our
business, with training and development programmes to ensure we
deliver outstanding customer service so our pubs reach their full
potential. Our continued success requires this, and Tracy has the
talent and experience to deliver it."
Peter Whitehead said:
"It has been an enormously fulfilling 19 years. Young's is a
unique company with a great heritage and importantly a very clear
view of the future. I will miss it greatly, but it is the right
time for me to step down, and I am delighted that Steve will be
succeeding me. He has played a central role in our finance function
for a number of years and I know that he will be highly successful
in his new role."
Ends
Anthony Schroeder, Company Secretary
Thursday, 11 August 2016 (07:00 BST)
Tel: 020 8875 7000
Enquiries:
Young & Co.'s Brewery, P.L.C. 020 8875 7000
Nicholas Bryan, Chairman / Patrick Dardis, Chief Executive
MHP Communications 020 3128 8100
John Olsen / James White / Gina Bell
J.P. Morgan Cazenove (AIM nominated adviser) 020 7742 4000
James Mitford / Behzad Arbabzadah
Notes:
Steve's full name is Steven Allan Robinson and he is 36 years
old.
Steve is the registered holder of 20,620 A shares of 12.5p each
in the capital of Young's.
15,152 of these A shares are subject to restrictions which
generally prevent him from selling them before the end of a
restricted period which ordinarily will end three years after the
shares were acquired or, if earlier, the date on which his
employment terminates by reason of illness, disability or
redundancy. Further, half of them are subject to satisfaction of
further conditions relating to the extent to which the group's
adjusted earnings per ordinary share in respect of the group's
continuing operations for a particular financial performance period
exceeds the same measure for an earlier financial performance
period. All 15,152 of these A shares are liable to forfeiture in
certain circumstances. The detail is as follows:
Number of shares Month and year Subject to an adjusted
in which the earnings per share
restricted period condition
should ordinarily
end
2,682 September 2017 No
2,682 September 2017 Yes
2,343 June 2018 No
2,343 June 2018 Yes
2,551 June 2019 No
2,551 June 2019 Yes
Steve also holds options over 1,959 A shares which were granted
to him under the Company's Savings-Related Share Option Scheme. The
option price per share is 840p (for 1,071 of the A shares) and
1,013p (for 888 of the A shares). Ordinarily, these options will
not be exercisable until 1 September 2017 (in respect of the option
over 1,071 of the A shares) and 1 September 2018 (in respect of the
option over 888 of the A shares) and will lapse six months later to
the extent not exercised.
Tracy's full name is Tracy Janice Read (née Marshall) and she is
47 years old.
Apart from the above, there are no disclosures required to be
made under rule 17 and Schedule Two paragraph (g) of the AIM
Rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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August 11, 2016 02:01 ET (06:01 GMT)