Further to Keller’s announcement in September 2014 that its Chief Executive, Justin Atkinson, had informed the Board of his intention to retire from the Company by the end of 2015.
Keller today announces the appointment of Alain Michaelis as its Chief Executive with effect from the close of the Company’s Annual General Meeting on 14 May 2015, when Justin will step down from the role. Alain will also replace Justin as Chairman of the Executive Committee as at that date.
Alain has spent his career leading operational and engineering teams in the industrial sector. Most recently, he was the Group Operations Director of Rolls-Royce plc where he also served as a major divisional head. Previously, he has held senior leadership positions at Tenneco, a Tier 1 automotive supplier, and at Wolseley, the building products distributor. Alain began his career as a mechanical engineer with Arup, working on building design projects.
Roy Franklin, Chairman of Keller, commented:
“We are delighted that Alain is joining us as Chief Executive. He is a highly experienced senior executive who brings considerable understanding of the complex multinational environment in which Keller operates. We are all looking forward to working with Alain and warmly welcome him to the Group.
The Board would also like to take this opportunity to express their sincere appreciation to Justin for the very significant contribution that he has made during his eleven years as Chief Executive.”
Alain Michaelis said:
“I am very pleased to be joining Keller. The Company has a great history and is well positioned for the future. I am very much looking forward to working with the teams around the world and am honoured to lead the next phase of Keller’s development.”
The resolution to shareholders proposing Justin’s re-election as a Director of the Company contained in the Notice of Meeting dated 2 March 2015 is withdrawn. As previously advised, Justin’s employment with the Company will cease at the end of the year when the information required under section 430(B) of the Companies Act 2006 in relation to his retirement will be made available on Keller’s website.
There is no additional information required to be disclosed pursuant to paragraph LR9.6.13R of the Listing Rules of the Financial Conduct Authority.
Notes to Editors:
Keller is the world’s largest independent ground engineering specialist, providing technically advanced and cost-effective foundation solutions to the construction industry. With annual revenue of around £1.6bn, Keller has approximately 9,000 staff world-wide. Keller is the clear market leader in North America and Australia; it has prime positions in most established European markets; and a strong profile in many developing markets.
Alain Michaelis’ salary package meets the criteria set out in the Company’s approved remuneration policy and is as follows:
Base pay
- Salary: £500,000
- Pension: 18% salary
- Car allowance: £15,000
Performance related pay
- Annual Bonus: up to 150% salary (max)
- Long term incentive plan: 200% salary on appointment; normal awards of 100% of base salary per annum
No ‘buy-out’ of existing incentive arrangements is required.