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Wincanton appoint Group Finance Director 08 July 2015

Brings substantial experience of the B2B services environment

Wincanton has announced that Tim Lawlor will join the Company as Group Finance Director and an executive Director on the Board from 28 September 2015.

Tim is currently Director of Finance and Strategy with Serco Group plc, the international service company, where he has also held a number of senior operational and group roles. Prior to joining Serco, Tim was Group Financial Controller at Sea Containers Limited. He is a chartered accountant and also a non-executive director of the Institute of Directors.

He brings substantial experience of the business to business services environment as well as a broad range of operational and technical financial skills to the Group.

From appointment Tim Lawlor’s remuneration will be set in accordance with the Remuneration Policy approved by shareholders in July 2014. The remuneration will comprise basic salary of £295,000, maximum bonus award of 120% of salary (with 50.0% for ‘on target’ performance), and maximum LTIP award of 100.0% of salary. He will receive an award in respect of the 2015/16 financial year of 100.0% of salary upon appointment.

All other employment benefits such as pension and car allowance will be provided on the same basis as the current incumbent. Tim’s notice period will be 12 months from employer and six months from employee. He will be required to accrue and then maintain a minimum holding of Company shares equivalent to 150.0% of salary.

As previously announced in April 2015, Eric Born will step down as Chief Executive on 31 July 2015 to take up a new role outside of the sector and that Adrian Colman, currently Group Finance Director, will be appointed Chief Executive effective 1 August 2015.