Changes to Board of Directors
The Weir Group PLC ("Weir" or "Weir Group") announces that Andy Agg has been appointed to the Board as an independent Non-Executive Director with effect from today, 27 February 2024.
Andy brings significant financial experience to the Board in light of his role as Chief Financial Officer of National Grid plc ("National Grid"). Andy joined National Grid in 2008 and prior to his current position held several senior finance leadership roles across the National Grid group, including as Group Financial Controller, UK CFO and Group Tax and Treasury Director. Andy started his career at PricewaterhouseCoopers and is a member of the Institute of Chartered Accountants in England and Wales.
Weir also announces that independent Non-Executive Director, Srinivasan Venkatakrishnan (Venkat) has informed the Board of his intention to step down (with effect from 31 March 2024) to pursue other opportunities, and therefore will not be seeking re-election at Weir's forthcoming annual general meeting on 25 April 2024.
Commenting, Barbara Jeremiah, Chair of the Weir Group said:
"I am delighted to welcome Andy to the Weir Board. Andy has built a long and successful career as a finance leader, and he brings to the Board both his financial and commercial acumen, experience in leading significant transformation programmes and significant transactional experience. We look forward to working with Andy as we drive forward our strategic objectives for Weir.
I also wish to thank Venkat for his contributions to the work of the Board and the Audit Committee over the course of his tenure and we will miss his counsel and advice. On behalf of the Company and the Board, we wish Venkat all the best for the future."
Board Committee composition
Following Andy's appointment, the Board Committee membership is now as follows:
| Audit Committee | · Stephen Young (Committee Chair) · Srinivasan Venkatakrishnan* · Tracey Kerr · Penny Freer · Andy Agg |
| Nomination Committee | · Barbara Jeremiah (Board Chair and Committee Chair) · Dame Nicola Brewer · Sir Jim McDonald** · Ben Magara |
| Remuneration Committee | · Penny Freer (Committee Chair) · Dame Nicola Brewer · Ben Magara · Stephen Young |
| Sustainability & Technology Committee | · Tracey Kerr (Committee Chair) · Dame Nicola Brewer · Ben Magara · Andy Agg |
* Until 31 March 2024
** Until 25 April 2024 - as announced on 19 December 2023, having served on the Board for nine years, Sir Jim McDonald will not be standing for re-election at this year's annual general meeting
There are no other matters that require disclosure under LR 9.6.13 of the UK Listing Rules.
Graham Vanhegan
Chief Legal Officer and Company Secretary
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About The Weir Group PLC
Founded in 1871, The Weir Group PLC is one of the world's leading engineering businesses with a purpose to make its mining and infrastructure customers' operations more sustainable and efficient. Weir's highly engineered technology enables critical resources to be produced using less energy, water and waste while reducing customers' total cost of ownership. The Group is ideally positioned to benefit from structural trends that support long-term demand for its technology including the need for more essential metals to support economic development and carbon transition. The Group has c.12,000 employees operating in over 60 countries with a presence in every major mining region of the world. Find out more at www.global.weir.
Weir's ordinary shares trade on the London Stock Exchange (ticker: WEIR LN) and its American Depositary Receipts trade over-the-counter in the USA (ticker: WEGRY).
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