Mondi Joint ChairPublication Date:
19 March 2019
Mondi Group announces that Fred Phaswana, Joint Chair of the boards of Mondi Limited and Mondi plc (the “Boards”), has informed the Boards of his decision to retire.
Fred is fully supportive of, and committed to, ensuring the smooth implementation of the proposed simplification of the Mondi Group’s corporate structure announced in November 2018. He will stand for re-election at the annual general meetings of Mondi Limited and Mondi plc in May 2019 and, subject to his re-election by shareholders, will remain in office until completion of the proposed simplification, currently expected to be in the second half of 2019, after which Fred intends to retire as Joint Chair of the Boards. Further details around the anticipated timing of completion of the proposed simplification will be announced in due course.
David Williams, Joint Chair, said: “We would like to thank Fred for his significant contribution to the Mondi Group. He has played an important role in Mondi’s development since his appointment in 2013, providing invaluable insight and leadership to the Boards. He will leave with our very best wishes for the future”.
We also announce that David Williams has informed the Boards that he intends to retire in early 2020, having served more than nine years as Joint Chair and almost 12 years on the Boards.
The Boards, led by Stephen Harris, Senior Independent Director, will now initiate the search for a new chair. Further details will be announced in due course.
Andrew King, Group CFO, Mondi Group
Tel: +44 193 282 6321
Kerry Cooper, Senior Manager – External Communication
Tel: +44 193 282 6323
Clara Valera, Group Head of Strategy and Investor Relations
Tel: +44 193 282 6357
Mondi is a global leader in packaging and paper, delighting its customers and consumers with innovative and sustainable packaging and paper solutions. Mondi is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is embedded in everything Mondi does. In 2018, Mondi had revenues of €7.48 billion and underlying EBITDA of €1.76 billion.
Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker MND and a premium listing on the London Stock Exchange for Mondi plc, under the ticker MNDI. Mondi is a FTSE 100 constituent, and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.
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