Mondi announces Stephen Young to its Board as upcoming Independent Director

– UK, Addlestone – Mondi PLC (LSE:MNDI), is pleased to announce the appointment of Stephen Young as an independent non-executive director with effect from 1 May 2018. He will replace John Nicholas who will be stepping down at the conclusion of the Annual General Meetings on 16 May 2018.

John has served on the Boards, and as chairman of Mondi’s DLC audit committee, since October 2009.

The joint chairmen, David Williams and Fred Phaswana, commented: “The Mondi Group Boards are delighted that Stephen will be joining us. He brings strong financial and general management experience to the Boards as well as an in-depth understanding of working for an international industrial business and the listed environment in which Mondi operates. His experience will benefit the audit committee and the Boards as a whole.

We would also like to take this opportunity to thank John for the significant contribution he has made to the Boards, in particular his focus on Mondi’s financial reporting as chairman of the DLC audit committee and the experience he brought to this role and more recently his contribution as Senior Independent Director. He leaves with our very best wishes for the future”.

Stephen is a member of the Chartered Institute of Management Accountants with experience gained across a variety of sectors, including the industrial and engineering sectors. Stephen held a number of senior financial roles before being appointed Group Finance Director of Meggitt plc in 2004 and then Chief Executive Officer in 2013. Stephen stepped down from the board of Meggitt plc on 31 December 2017. He is a non-executive director and audit committee chair at Derwent London plc and at Weir Group plc.

With effect from 1 May 2018, Stephen will be a member of the DLC nominations and sustainable development committees. In addition, with effect from the conclusion of the Annual General Meetings on 16 May 2018, he will be appointed a member, and replace John Nicholas as chairman, of the DLC audit committee, subject to shareholder approval at the Annual General Meetings.

As a result, also with effect from the conclusion of the Annual General Meetings:

  • Stephen Harris, an independent non-executive director, will succeed John Nicholas as Senior Independent Director.
  • Dominique Reiniche will replace Stephen Harris as chair of the DLC Sustainable Development and Mondi Limited Social & Ethics Committees.

About Mondi

Mondi is a global leader in packaging and paper, employing around 26,000 people in over 30 countries. We are 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, with clearly defined commitments across 10 action areas. We delight our customers with our innovative and sustainable packaging and paper solutions. Our major operations are in central Europe, Russia, North America and South Africa. In 2017, Mondi had revenues of €7.1 billion and a return on capital employed of 19.7%.

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. We are a FTSE 100 constituent, and have been included in the FTSE4Good Index Series since 2008 and the JSE’s Socially Responsible Investment (SRI) Index since 2007.

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