Halfords Group PLC (HFD) Halfords Group PLC: Directorate Change
- Chief Financial Officer 13-Oct-2021 / 07:00 GMT/BST Dissemination
of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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13 October 2021
Halfords Group plc
Directorate Change - Chief Financial Officer
The Board of Halfords Group plc ("Halfords" or the "Group"), the
UK's leading provider of Motoring and Cycling products and
services, is pleased to announce the appointment of Jo Hartley as
Executive Director and Chief Financial Officer. Jo will join the
business in mid-April 2022, replacing Loraine Woodhouse, who has
announced her intention to retire from a full-time plc role. In
order to ensure a smooth transition, Loraine will remain with the
business and in post until the FY22 Preliminary Results in June
2022, at which point she will step down from her role and pass her
responsibilities to Jo.
Jo Hartley joins Halfords from Virgin Active, where she has been
Group CFO since 2015. Jo began her career at Deloitte UK, before
moving to Tesco in 1999. At Tesco, Jo performed a number of roles,
including Finance Director for convenience stores, operations and
then property for Tesco UK, before spending time as CFO of Tesco
Poland and latterly leading the finance function for Tesco UK as
Interim Finance Director.
Keith Williams, Chairman of Halfords, commented:
"On behalf of the Board, I am delighted to be welcoming someone
of Jo's calibre to Halfords. Her experience and expertise will be
invaluable as we look to build on the strong momentum within the
business, while also navigating our way through the current
challenges and uncertainties of the wider trading environment. I
would also like to express the Board's thanks to Loraine for her
commitment, professionalism and dedication to Halfords during her
time at the Group; I'm sure she will do well as she pursues a
non-executive career."
Jo Hartley, incoming CFO, commented:
"Halfords is a great business with a strong brand proposition
and I am excited about the prospect of helping the Group achieve
its ambitious plans in the strategically important areas of
motoring services, digital and B2B. I am looking forward to getting
started and to working with the team on the many initiatives that
are currently underway across the business."
Loraine Woodhouse, outgoing CFO, commented:
"I have very much enjoyed my time as Halfords' CFO but, after
much deliberation, have decided that the time is right for me to
step down from a full-time plc role, allowing me to pursue
non-executive opportunities whilst also spending more time with
family. I wish Jo all the very best as my successor and am pleased
to be leaving Halfords in a strong position from which to execute
its service-led growth strategy."
Halfords Group plc will publish its Interim Results for the 26
weeks to 1 October on Wednesday 10 November 2021.
Enquiries
Investors & Analysts (Halfords)
Loraine Woodhouse, Chief Financial Officer
Neil Ferris, Corporate Finance Director
Andy Lynch, Head of Investor Relations +44 (0) 7483 457 415
Media (Powerscourt) +44 (0) 20 7250 1446
Rob Greening halfords@powerscourt-group.com
Nick Hayns
Harold Amoo
Regulatory disclosures
In accordance with Rule 9.6.13R of the Listing Rules of the UK
Financial Conduct Authority, Halfords confirms the following
information in respect of Jo Hartley, who will become a director of
the Company in June 2022.
In accordance with 9.6.13 (3), Ms Hartley was a director of a
Virgin Active Holdings Limited ("Virgin Active") and two of its
subsidiaries, on 12th May 2021, when Restructuring Plans with
certain of their creditors were sanctioned. Restructuring plans
were introduced into Part 26A of the Companies Act 2066 in June
2020 by the Corporate Insolvency and Governance Act 2020.
There are no other matters in respect of Ms Hartley requiring
disclosure under UK Listing Rules 9.6.13(1) to 9.6.13 (2) and
9.6.13 (4) to 9.6.13(6) inclusive.
Summary of Jo Hartley's remuneration
Jo Hartley's base salary will be set at GBP395,000 per annum,
her pension allowance will be 3% of base salary which is in-line
with the pension rate available to the majority of the workforce
and her benefits will be in-line with our current policy. In FY23,
the first year of her appointment, her annual bonus and PSP awards
will be set at 125% and 150% of base salary respectively. This is
below the maximum opportunities under Halford's policy and below
the incentive opportunities for Halford's current CFO. From FY24,
the Committee intends, subject to satisfactory individual
performance, to increase Jo's annual bonus opportunity to 150% of
base salary and her PSP award to 200% of base salary in-line with
Halfords' shareholder approved Directors' Remuneration Policy. On
joining, Halfords will make a payment to Jo to replace a cash bonus
she was required to repay on cessation of employment from her
previous employer.
About Halfords Group plc
Halfords is the UK's leading provider of motoring and cycling
services and products. Customers shop at 404 Halfords stores, 3
Performance Cycling stores (trading as Tredz and Giant), 374
garages (trading as Halfords Autocentres, McConechy's and
Universal) and have access to 166 mobile service vans (trading as
Halfords Mobile Expert and Tyres on the Drive) and 192 Commercial
vans. Customers can also shop at halfords.com and tredz.co.uk for
pick up at their local store or direct home delivery, as well as
booking garage services online at halfords.com.
www.halfords.com www.tredz.co.uk www.halfordscompany.com
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ISIN: GB00B012TP20
Category Code: BOA
TIDM: HFD
LEI Code: 54930086FKBWWJIOBI79
OAM Categories: 2.2. Inside information
Sequence No.: 124183
EQS News ID: 1240312
End of Announcement EQS News Service
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