LONDON, 2014-11-19 — /EPR Retail News/ — Following the announcement made earlier in July of this year regarding the transfer of the Group finance function to France, Darty plc today announces that it has recruited Albin Jacquemont as its new Finance Director, who will be based in France.
Albin joins from Carrefour, the French food retailer, where he has been Chief Financial Officer for Carrefour France since November 2011. Since joining Carrefour in 1998 Albin has held a number of senior roles including Group Controller and Consolidation Director and Chief Financial Officer of Carrefour Poland. Prior to Carrefour he held a number of finance positions at Lyonnaise des Eaux, who he joined from auditors Arthur Andersen.
Albin is expected to join Darty in early 2015 and will join the Board. Dominic Platt will remain as Finance Director until the announcement of the Full Year Results in June 2015 to enable him to oversee the transition of various finance roles to France, when Albin will replace him as Finance Director.
Commenting on the appointment, Chairman Alan Parker said:
“I am delighted to welcome Albin to Darty as our new Finance Director. He brings with him a wealth of finance experience in European retail. The Board and I look forward to working with him on our ongoing plans to restore shareholder value by increasing profitability in our businesses from our market leadership and growth initiatives, and by improving efficiencies in the cost base.
“I would like to again thank Dominic for his significant contribution to the Group over the last five years. We wish him well in the future.”
Albin Jacquemont said:
“Darty is one of Europe’s leading specialist retailers and I am very pleased to be given the opportunity to join the Group. I am looking forward to working closely with Alan, Régis and all my new colleagues at Darty to build on its strong foundations as a leading multi-channel retailer.”
There is no further information to be disclosed on Albin Jacquemont under paragraph 9.6.13 of the Listing Rules of the UK Listing Authority.
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About Darty plc
Darty group is a leading multi-channel service led electrical retailer operating over 340 stores in three European countries. It generated an annual turnover of nearly €3.5 billion in 2013/14 through operations in Darty in France, Vanden Borre in Belgium and BCC in the Netherlands. Its ordinary shares are listed with the UK Listing Authority and trade on the market for listed securities on the London Stock Exchange under the symbol DRTY.L. It is also listed on the NYSE Euronext Paris.
For further information, please visit the company’s website, www.dartygroup.com.
Summary of Albin Jacquemont’s remuneration:
Albins’s remuneration package includes a basic salary of €360,000 per annum. He will be eligible to receive a discretionary and non-pensionable cash performance bonus up to a maximum of 100 per cent per annum. Any bonus earned will be paid as to 50 per cent in cash and 50 per cent in shares, with the vesting of shares to be deferred for a period of three years, and subject to claw back.
To compensate him for the loss of annual bonus directly as a result of leaving his current employer, he will receive a one off cash payment up to a maximum of €200,000, of which 50% will be invested in Darty shares. In addition a minimum personal shareholding is required to the equivalent of his base salary to be built up by the end of year three, including the value of any shares received from vested share awards.