Business
Board Change
Board Change.
About this update from Dfs Furniture Plc
[{"type":"text","content":"\n \nRNS Number : 5591F DFS Furniture plc 29 July 2016 \n\n29 July 2016 For immediate release\n \nDFS FURNITURE plc\n \nBOARD CHANGE\n \nSection 430 (2B) Companies Act 2006 Statement - Bill Barnes\n \nAs announced today, Bill Barnes will retire as Group Finance Director of DFS Furniture plc (\"the Group\") with effect from 30 July 2016. He will remain an employee of the Company until 31 August. The following information is provided in accordance with section 430(2B) of the Companies Act 2006:\n \n1. Bill Barnes has not and will not receive any loss of office payments.\n \n2. Incentives: Bill Barnes' outstanding share incentive benefits will be treated in accordance with the rules of the applicable plans and will remain subject to the terms contained therein.\n \nBill Barnes will be eligible to receive a bonus for the 2016 Financial Year subject to an assessment of the performance targets. Details of any bonus payment for the 2016 Financial Year will be provided in the 2016 Directors' Remuneration Report. \n \nLong Term Incentive Plan (\"LTIP\") awards granted in March and October 2015 - the Remuneration Committee determined to treat Bill Barnes as a 'good leaver' and that the awards will vest on their original vesting date to the extent that the performance conditions are met. His awards will be time pro-rated proportionately to his actual period of service. \n \nSharesave Scheme: outstanding options held under the all-employee Sharesave may be exercised in accordance with the rules of the plan.\n \n3. Bill Barnes is contractually entitled to a payment in lieu of holiday accrued but not taken by 31 A...