18-01-2024
Michael was previously CFO of Boots, No7Beauty Company and International for Walgreens Boots Alliance. Prior to Boots Michael was International CFO for Tesco, responsible for its operations outside the UK and Ireland. His earlier career was spent with Waitrose, part of the John Lewis Partnership, and J Sainsbury plc.
Mick Jeavons will leave the company on 31 May 2024 following a handover period. He will stand down from his position on the plc Board with immediate effect.
Announcing these changes, Group Chief Executive Officer Martin Seidenberg said: “I am delighted to announce the appointment of Michael as Group CFO of IDS. Michael brings extensive turnaround experience and excellent financial leadership gained in a number of leading international companies during their transformation. I look forward to working closely with him to ensure that both Royal Mail and GLS reach their full potential.
“Mick has been a great colleague and his counsel, knowledge and experience have been invaluable to both myself and the Board over the last few years. We thank him for his outstanding contribution through some turbulent times, and wish him every success for the future.”
Michael Snape said: “I am delighted to be joining IDS at such a pivotal time and am excited by the renewed level of ambition that Martin and the Board have for both Royal Mail and GLS. I look forward to helping drive the turnaround of Royal Mail and the continued growth in GLS to deliver for our customers, our colleagues and our shareholders.”
Mick Jeavons said: “I have enjoyed immensely my journey with this incredible company and I thank all the wonderful people I have met during my time here for their advice, professional support and friendship. As the Group moves to the next stage in its transformation, I’d like to wish Martin, the Board and all my colleagues at IDS, Royal Mail and GLS all the best for the future.”
This announcement is made in accordance with Listing Rule 9.6.11R. There are no other details required to be disclosed pursuant to Listing Rule 9.6.13R.
Full details are available on the company's website in compliance with Section 430(2B) of the Companies Act 2006 and will be disclosed in due course in the Directors' Remuneration Report within the company's Annual Report and Accounts for the year ending 31 March 2024, and subsequent years, as appropriate.
In a separate announcement, this morning IDS announced its Q3 Trading Update covering the period to 31 December 2023.
Source: Royal Mail