Appointment of Chief Financial Officer

April 18, 2017

Low & Bonar is pleased to announce the appointment of Philip de Klerk as Chief Financial Officer ('CFO'). He is currently the Chief Financial Officer of Flybe Group PLC and will join the Board of Low & Bonar on 2 October 2017.


Philip de Klerk joins Low & Bonar from Flybe, Europe's largest regional airline, where he helped lead the airline's change and transformation programme. Prior to this he was at SABMiller, where he played a key leadership role as Finance Director for Business Capabilities amongst other positions. Previously, Philip had been at Ineos, where he was Finance Director of the Polymers & Olefins business in Europe.

Philip is a CIMA qualified accountant who spent the first sixteen years of his career at Unilever, rising to CFO for its Swiss and then Benelux operations.

As announced on 1 March 2017, Mike Holt, currently CFO, is stepping down from the role by mutual and amicable agreement. He will remain with the Company for an agreed period of time to assist with an orderly handover. To support the handover process, Simon Dray, the current Deputy CFO has been appointed as Interim CFO.

Martin Flower, Chairman, commented:

"Philip brings with him commercial as well as financial expertise and substantial experience of international manufacturing businesses. We are confident that he will bring these capabilities to benefit Low & Bonar as we continue to drive our strategy of growth and stringent portfolio management across our global end markets. We look forward to working with him."

There are no further disclosures required pursuant to paragraphs 9.6.11 to 9.6.13 of the Listing Rules.



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020 7535 3180

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