Mondi Announces Details Regarding Retirement of Fred Phaswana
Further to the announcement of 19 March 2019 that Fred Phaswana intends to retire as Joint Chair of the boards of Mondi Limited and Mondi plc following completion of the simplification of the Mondi Group’s corporate structure, we now confirm that Fred will step down on 31 August 2019.
David Williams, Joint Chair, said: “We would like to reiterate our thanks to Fred for his significant contribution to the Mondi Group since his appointment in 2013 and wish him all the best for the future.”
Pursuant to section 430(2B) of the UK Companies Act 2006, we advise that Fred Phaswana, upon retirement as a director of Mondi Limited and Mondi plc, will receive a payment of £51,301.63 representing the normal fees payable in full to his retirement date for the period from 1 July to 31 August 2019. No other remuneration payments or payment for loss of office have been or will be made in connection with his retirement.
Appointment of Non-Executive Director
The Mondi Group is pleased to announce the appointment of Enoch Godongwana as an independent non-executive director of Mondi plc with effect from 1 September 2019.
Enoch has an MSc in Financial Economics from the University of London and is currently a non-executive director of the South African National Housing Finance Corporation, the Development Bank of South Africa and the New Development Bank. Enoch has previously held roles with the South African Economic Development Ministry and the South African Department of Public Enterprises.
The Joint Chairs, David Williams and Fred Phaswana, commented:
“The Mondi Group is delighted that Enoch will be joining us. He brings significant experience to the Board, having held a number of leadership roles, as well as invaluable knowledge of the South African business environment.”
Enoch will be a member of the nominations committee and the sustainable development committee with effect from the date of his appointment.
There are no other details that require to be disclosed in respect of the appointment of Enoch pursuant to Rule 9.6.13 of the UK Listing Rules
About Mondi Group
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 premium listing on the London Stock Exchange (MNDI), and a secondary listing on the JSE Limited (MNP), quoted in rand. 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.
Kerry Crandon Cooper – Senior Manager External Communication – +44 1932 826323
Source: Mondi plc