John Laing Group appoint Rob Memmott as new CFO

Infrastucture

John Laing Group plc (LON:JLG) has today announced the appointment of Rob Memmott as Chief Financial Officer with effect from 6 January 2021.

Rob has over 20 years’ experience in senior financial leadership roles and has significant experience as a listed company finance director. He was most recently the Chief Financial Officer of Praetura Group, a privately owned financial services business.  Prior to this, he was the Group Chief Financial Officer of Arrow Global Group Plc between September 2011 and January 2018, where he led the business through its IPO, and was responsible for an international balance sheet business covering all financial matters, treasury, fund raising, investor relations and asset pricing.  Rob’s previous roles included Chief Financial Officer for Leeds Bradford International Airport Limited and Servisair and Finance Director for Alfred McAlpine. He qualified as a chartered accountant with KPMG in Manchester.

Will Samuel, John Laing Chairman, commented: “We are pleased that Rob will be joining John Laing.  He brings strong financial and listed company experience. His leadership of the Finance team will enable it to support John Laing’s strategy and future growth.”

Ben Loomes, Chief Executive Officer said: “I am delighted to welcome Rob to John Laing.  Rob brings valuable experience and skills which will further strengthen and support our team. I am very much looking forward to working with Rob as we implement our strategic priorities and develop the John Laing business.”

Remuneration

Rob Memmott’s service contract, remuneration and benefits on appointment will be consistent with John Laing’s Directors’ Remuneration Policy approved by shareholders at the Annual General Meeting held on 9 May 2019. A summary of the key terms is provided here:

His basic salary will be £390,000. He will participate in the Annual Bonus Scheme for Executive Directors with a maximum bonus opportunity of 100% of basic salary. The bonus will be pro-rated to reflect actual service during the year. Bonus targets and parameters are set each year by the Remuneration Committee. In addition, he will receive an LTIP award of 168% of salary under the Company’s Long-Term Incentive Plan in the grant window that follows his date of joining in accordance with the terms of the Company’s Remuneration Policy.

A pension allowance of 8% of basic salary will be provided. He will also receive private medical and dental insurance, permanent health insurance and life assurance, as well as temporary travel and accommodation support for a twelve month period following his start date.

There are no other matters relating to Rob Memmott which would require disclosure under Listing Rules 9.6.13R.

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