Weir Group PLC Appointment of Chief Financial Officer (9502R)
01 11월 2023 - 4:01PM
UK Regulatory
TIDMWEIR
RNS Number : 9502R
Weir Group PLC
01 November 2023
Appointment of Chief Financial Officer
The Weir Group PLC, a global mining technology leader, is
pleased to announce the appointment of Brian Puffer to the
company's Board of Directors as Chief Financial Officer (CFO) and
Executive Director. Brian will join the Board on 1 April 2024 at
the latest.
Brian is currently Chief Financial and Risk Officer of BP plc
Integrated Supply and Trading and has over 30 years' experience in
driving commercial and financial performance in both industry and
as a Partner in PwC.
Brian will succeed John Heasley who, as announced on 27 July
2023, will be leaving Weir to take up a new role as Finance
Director of Anglo American plc. John will step down as Chief
Financial Officer and resign from the Board on 30 November
2023.
Commenting on Brian's appointment, Barbara Jeremiah, Chair of
The Weir Group said:
"The Board is delighted to appoint Brian as the Group's new CFO.
He is an accomplished finance leader and with his broad experience,
he will be a valuable asset to Weir. Brian joins our strong finance
team at Weir and will provide leadership as we drive
standardisation and simplification across the business. We look
forward to welcoming him to the Board."
Jon Stanton, CEO of The Weir Group added:
"I am delighted that Brian is joining us at this exciting time
for our business. He has an outstanding track record in senior
finance roles within BP and, in particular, his extensive
experience of business transformation will enable him to make an
immediate contribution to Weir as we execute on our strategy and
deliver the benefits of our Performance Excellence programme."
Commenting on his appointment, Brian Puffer said:
"It's great to be joining Weir, a true leader in its field with
a compelling opportunity to create value from making mining more
sustainable. I am looking forward to working with Jon and the rest
of the team to deliver excellent outcomes for all our
stakeholders."
Biography
Brian Puffer will join Weir from BP plc where he is currently
the Chief Financial and Risk Officer for BP Integrated Supply and
Trading. Prior to that he was Senior Vice President of BP's Global
Business Services between 2012 and 2017, having joined BP in 2009
as Senior Vice President of Group Finance (group financial
controller). Prior to BP, Brian spent 18 years at PwC, initially in
various roles in the US and UK before being appointed Partner in
2002. Brian is a dual British and American citizen and holds a
Bachelor's degree in Accounting and Finance from Niagara
University. He is a Certified Public Accountant and a Chartered
Accountant.
Notes
Brian's remuneration arrangements have been set in accordance
with our Directors' Remuneration Policy. His base salary will be
GBP500,000 per annum with pension, benefits and incentives in-line
with our current approach.
Brian will also be granted various RSU awards with expected
vesting between February 2025 and November 2027 to compensate him
for incentive awards that he is expected to forfeit on leaving his
current employer. The aggregate face value of these buy-out awards
is expected to be c.GBP2.9m (maximum value of c.GBP3.5m) but may
vary depending on which awards are forfeited. These buy-out awards
have been structured on a 'like for like' basis to reflect the time
frames and key terms of the forfeited awards. Full details will be
disclosed in the 2023 Annual Report.
The information required to be disclosed under section 430(2B)
of the Companies Act 2006 in relation to John Heasley will be
available on the Group's website in due course.
There are no other matters that require disclosure in relation
to Brian Puffer under LR 9.6.13 of the UK Listing Rules.
Enquiries:
Investors: Edward Pears +44 (0) 141 308 3725
Media: Sally Jones +44 (0) 141 308 3666
Citigate Dewe Rogerson: +44 (0) 207 638 9571
Kevin Smith Weir@citigatedewerogerson.com
-------------------------------
About The Weir Group PLC
Founded in 1871, The Weir Group PLC is one of the world's
leading engineering businesses with a purpose to make its mining
and infrastructure customers' operations more sustainable and
efficient. Weir's highly engineered technology enables critical
resources to be produced using less energy, water and waste while
reducing customers' total cost of ownership. The Group is ideally
positioned to benefit from structural trends that support long-term
demand for its technology including the need for more essential
metals to support economic development and carbon transition. The
Group has c.12,000 employees operating in over 60 countries with a
presence in every major mining region of the world. Find out more
at www.global.weir.
Weir's ordinary shares trade on the London Stock Exchange
(ticker: WEIR LN) and its American Depositary Receipts trade
over-the-counter in the USA (ticker: WEGRY).
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