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PZ Cussons

PZ Cussons Several board changes including new CEO

PZ Cussons plc (LON:PZC), a leading consumer products group, has announced today the appointment of a new Chief Executive Officer with effect from the 1st of May.

The Company also announces the appointment of Jeremy Townsend as a Non-executive Director with effect from 1 April. Jeremy is currently Chief Financial Officer of Rentokil Initial plc but is due to retire later this year. An experienced FTSE100 finance director, he was previously Group Finance Director of Mitchells & Butlers and held senior finance positions at Sainsbury’s after starting his career with Ernst & Young. He is also a former Accounting Council Member of the Financial Reporting Council. Since 2017, he has been a Non-executive Director and Chair of the Audit Committee for Galliford Try plc. On appointment, Jeremy will join the Audit & Risk Committee.

Jez Maiden, who has served the Board as a Non-executive Director since 2016, has advised the Company of his intention to step down on 31 May 2020. He will be succeeded as Chair of the Audit & Risk Committee by Jeremy Townsend.

Caroline Silver, Chair, said:

“We are pleased to welcome Jeremy Townsend to the Board. He has been part of a highly successful executive team at Rentokil Initial and is also an experienced Non-executive Director and Audit Chair. His appointment will further strengthen the Board and he will be an able replacement for Jez Maiden as Chair of the Audit & Risk Committee when he retires later this year.

I would also like to thank Jez for his years of service to the Board and for the significant contribution which he has made to the effective operation of the Audit & Risk Committee.”

New CEO

The company went on to announce that Jonathan Myers will join the Board as Chief Executive Officer with effect from 1 May.

Jonathan is an experienced FMCG executive, having worked for a number of well-known businesses across a range of categories including personal care, homecare and food and nutrition. He joins from Avon Products Inc, a multi-level marketing company in beauty, household and personal care categories with c.$5.5 billion of annual sales, where he has been Chief Operating Officer since 2017. With global responsibility for Supply Chain, Marketing, Digital, Research & Development and IT, he was a core member of the executive team delivering a successful turnaround of the business.

He spent the first 21 years of his career at Procter & Gamble, where he worked across a range of categories and had extensive experience in Asia, South America and beyond. At Procter & Gamble he progressed to General Manager, Oral Care and Feminine Care for the Greater China Region, before he moved to Kellogg Company, the US multinational food manufacturing group, where he held a number of senior leadership positions, serving as Managing Director, UK and Ireland from 2012 and then also Vice President, European Markets from 2014.

Caroline Silver will continue to serve as Executive Chair until Jonathan joins the business on 1 May.

Caroline Silver, Chair of PZ Cussons, said:

“Jonathan is an excellent appointment for the Company as our new CEO. His wealth of experience in our product categories and of doing business in both developed and developing markets will be invaluable. In addition, Jonathan’s track record of successful business turnarounds will serve us well as we continue to deliver on the Company’s strategy of Focus, Scale and Accelerate.”

Jonathan Myers said:

“This is an exciting time to be joining PZ Cussons and taking the business forward as its new CEO. It is a Company with a rich heritage but with an equally bright future, driven by a portfolio of some of the world’s best-loved brands. I look forward to working with Caroline, the wider executive team and every member of the PZ Cussons family to create that bright future.”

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