Mondi plc (“Mondi” or “the Group”) announces that Andrew King, Group Chief Financial Officer (“CFO”) and a director of Mondi plc, will be appointed as Group Chief Executive Officer (“CEO”) with effect from 1 April 2020. Andrew will succeed Peter Oswald who, as announced on 10 January 2020, will be stepping down as CEO and leaving Mondi plc on 31 March 2020.
David Williams, Chair of Mondi plc, commented:
“I am delighted that someone of Andrew’s calibre has agreed to succeed Peter as CEO. This appointment follows a formal review process, assessing both internal and external candidates, which convinced the Board that he is the right person to lead the Group. During his time with Mondi, Andrew has consistently demonstrated considered and effective leadership.
Andrew’s 17 years’ experience with Mondi in various strategy, business development and finance leadership roles will benefit the Group enormously. He has been instrumental in defining the Group’s strategic direction since listing and I am confident he will bring significant insight and leadership to the role of CEO.”
Commenting, Andrew King, said:
“I am excited to accept the role as CEO of Mondi. We have a clear strategic focus, robust business model and many talented and dedicated people. At Mondi’s core is our purpose of contributing to a better world by making innovative, sustainable packaging and paper solutions, with a strategy aimed at creating long-term value for the benefit of all our stakeholders. I look forward to working with the Board and the wider leadership team to continue the successful development of the Group.”
A formal process to recruit Andrew’s successor as CFO will commence immediately and will include external and internal candidates.
Mondi Group Head of Strategy and Investor Relations
+44 193 282 6357
Mondi Group Head of External Communication
+44 193 282 6323
Richard Mountain (FTI Consulting)
+44 790 968 4466
Andrew King – biography:
Andrew King graduated in commerce from the University of Cape Town and is a chartered accountant.
Andrew has more than 17 years’ experience with Mondi in various strategy, business development and finance leadership roles, giving him a detailed understanding of Mondi’s strategy, capital allocation priorities, financial structure and the environment in which the Group operates. He has played a key role in defining the Group’s strategic direction and re-shaping the capital structure since listing.
Andrew completed articles with Deloitte & Touche in Johannesburg in 1994. In 1995 he joined Minorco, part of Anglo American, as a financial analyst, before assuming responsibility for the group’s investment management activities, and transferring to their corporate finance department in 1998. He worked on a number of group M&A activities before being appointed a vice president of Anglo American Corporate Finance in 1999. He was appointed Mondi’s Vice President of Business Development in 2002 and Corporate Development Director in 2004. He served as Chief Financial Officer of Mondi from June 2005 to May 2006. He was then appointed as Group Strategy and Business Development Director before becoming the Chief Financial Officer of the Mondi Group in 2008.
Mondi is a global leader in packaging and paper, delighting its customers and consumers with innovative packaging and paper solutions that are sustainable by design. Our business is fully integrated across the packaging and paper value chain – from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is embedded in everything we do. In 2018, Mondi had revenues of €7.48 billion and underlying EBITDA of €1.76 billion.
Mondi has a premium listing on the London Stock Exchange (MNDI), and a secondary listing on the JSE Limited (MNP). Mondi is a FTSE 100 constituent, and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.
Sponsor in South Africa: UBS South Africa Proprietary Limited.