Peter Oswald to step down as Group Chief Executive OfficerPublication Date:
10 January 2020
Mondi plc (“Mondi” or “the Group”) announces that it has agreed with Peter Oswald, Group Chief Executive Officer (“CEO”), that he will step down as CEO and from the board of Mondi plc, and will leave the Group, on 31 March 2020.
Mondi’s Nominations Committee will now begin the process of searching for a successor to Peter. We are pleased to confirm that Andrew King, Group Chief Financial Officer (“CFO”), has agreed to take on the role of Interim CEO after Peter steps down and until a successor is appointed.
David Williams, Chair of Mondi plc, commented:
“Peter has made an immense contribution to the growth and development of Mondi since joining in 1992, most notably during his tenure as Chief Executive Officer of the former Europe & International Division and subsequently as CEO. His drive to grow the business and his focus on ensuring Mondi’s long-term sustainable future have been invaluable to Mondi. The Board thanks Peter for his contribution to the Group and wishes him all the best for the future.”
Peter Oswald commented:
“It has been an honour to have worked for Mondi and I am extremely proud of what we have achieved together. While I am sad to be leaving, I know the Group is in the hands of a strong Board and an experienced senior management team that will ensure its continued success.”
The remuneration details relating to Peter Oswald required to be made available pursuant to section 430(2B) of the UK Companies Act 2006 will be made available on our website (www.mondigroup.com) at the appropriate time.
Mondi Group Head of Strategy and Investor Relations
Tel: +44 193 282 6357
Mondi Group Head of External Communication
Tel:+44 193 282 6323
Richard Mountain (FTI Consulting)
Tel: +44 790 968 4466
Mondi is a global leader in packaging and paper, delighting its customers and consumers with innovative packaging and paper solutions that are sustainable by design. Our business 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 we do. In 2018, Mondi had revenues of €7.48 billion and underlying EBITDA of €1.76 billion.
Mondi has a premium listing on the London Stock Exchange (MNDI), and a secondary listing on the JSE Limited (MNP). 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.
Sponsor in South Africa: UBS South Africa Proprietary Limited.