Last checked at 8 Oct 2019 07:00
8 October 2019
This announcement contains inside information
Aston Martin Lagonda Global Holdings plc (the "Company")
Board and Committee Changes
The Company announces the following Board and Committee changes, with immediate effect. These changes relate to the shareholder representative directors and reflect the commitments given by the Adeem/Primewagon controlling shareholder group and the Investindustrial controlling shareholder group in their respective Relationship Agreements with the Company.
·; Mr Najeeb Al Humaidhi, the Representative of the Adeem/Primewagon controlling shareholder group, has nominated Mr Amr AbouelSeoud and Mr Mahmoud Samy Mohamed Aly El Sayed as their two continuing Adeem/Primewagon Non-Executive Directors. Mr Mahmoud Samy Mohamed Aly El Sayed has been appointed as the Adeem/Primewagon representative director on the Nomination Committee.
·; As provided in the Relationship Agreements, Mr Peter Rogers and Mr Mahmoud Samy will now serve as observers on the Audit and Risk Committee with no voting rights. They will remain on the Board as Non-Executive Directors.
·; As provided in the Relationship Agreements, Mr Dante Razzano and Mr Amr AbouelSeoud will now serve as observers on the Remuneration Committee with no voting rights. They will remain on the Board as Non-Executive Directors.
Following the above changes, the Company is now compliant with the UK Corporate Governance Code in relation to the composition of its Audit and Risk and Remuneration Committees. To achieve Board Code compliance, we are in discussion with independent non-executive director candidates and expect to announce the outcome shortly.
The Company thanks Messrs. Najeeb Al Humaidhi and Saoud Al Humaidhi for their service as directors in its first year since IPO and thanks them for their long-standing and continuing support as shareholders.
Enquiries:
Investors and Analysts
Charlotte Cowley, Director of Investor Relations +44 (0)7771 976764 charlotte.cowley@astonmartin.com
Media
Kevin Watters, Director of Communications +44 (0)7764 386683
kevin.watters@astonmartin.com
Grace Barnie, Corporate Communications Manager +44 (0)7880 903490 grace.barnie@astonmartin.com
Brunswick
Dan Roberts, Andrew Porter, Diana Vaughton +44 (0)20 7404 5959 astonmartin@brunswickgroup.com