Business
Director Change
Director Change.
About this update from Ibstock Plc
[{"type":"text","content":"\n \nRNS Number : 7586A Ibstock PLC 02 January 2018 \n\n2 January 2018\n \nIbstock plc\n \nDirector Change\n \n \nFurther to the announcement issued on 11 October 2017, Ibstock plc ('Ibstock' or the 'Company') announces that Joe Hudson has today been appointed a director of the Company.\n \nEnquiries\n\n\n\n\nCitigate Dewe Rogerson \n\n\n+ 44 (0)20 7638 9571\n\n\n\n\nKevin Smith\n\n\n\n\n\n\n\nNick Hayns \n\n\n\n\n\n\n\n \nNotes to Editors:\nRemuneration:\nJoe Hudson's remuneration arrangements, which take effect from 1 January 2018, have been summarised as follows:\n\n\n\n\n•\n\n\nBase salary - £435,000 p.a.;\n\n\n\n\n•\n\n\nAnnual bonus opportunity - up to 125% of salary; and\n\n\n\n\n•\n\n\nLong Term Incentive Plan - 100% of salary\n\n\n\n\nIn addition, it has been agreed to grant a buy-out award of 21,570 Ibstock plc ordinary shares of 1p each. The award is to compensate, on a fair value basis, the value forgone by Joe Hudson for share awards forfeited on cessation of employment with his previous employer. The fair value of the award has been reduced to take account of the original performance period and the proportion of satisfaction of the performance conditions as at the time of the buy-out.\nThese arrangements, along with other elements of Joe's remuneration, are in line with Ibstock's Remuneration Policy approved by shareholders in 2016. Full disclosure of these remuneration arrangements will be provided in the Directors' Remuneration Report to be published in 2018.\nIbstock plc is a leading manufacturer of clay bricks with a diversified range of clay and concrete products, and operations in the United Kingdom and the United States. Its principal products are clay bricks, brick components, concrete roof tiles, concrete substitutes for stone masonry, concrete fencing and general concrete building products.\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END BOABUGDBIXGBGID\n ","length":3943,"tagName":"div"}]