Fidessa Group PLC Directorate Change

 
TIDMFDSA 
 
Directorate changes 
 
Fidessa group plc ("Fidessa") is pleased to announce the appointment of Andy 
Skelton as Chief Financial Officer with effect from 26th October 2015. Andy 
Skelton will replace Andy Malpass who, as announced in February 2014, will be 
retiring. Andy Malpass will step down as Chief Financial Officer on 26th 
October but remain an executive director until the announcement of the 2015 
preliminary results in February 2016 so a well-managed handover can be 
effected. 
 
Since July 2011, Andy Skelton has served as Deputy CFO at CSR plc, a global 
fabless semiconductor company which, until its recent acquisition by Qualcomm 
Incorporated, was listed on the London Stock Exchange and NASDAQ. Previously 
Andy was with Ericsson where he held a number of senior finance positions. Andy 
qualified as a chartered accountant in 1994. 
 
Commenting on Andy's appointment, John Hamer, Chairman of Fidessa, said: "Andy 
is a very high calibre individual with strong finance and commercial skills 
alongside substantial experience in the technology sector. Andy will be an 
exceptional addition to our management team and is ideally suited to help lead 
Fidessa in the next phase of its development." 
 
"I would like to take this opportunity to thank Andy Malpass for his 
outstanding contribution to Fidessa over the past 20 years. Andy has helped to 
lead Fidessa through a period of exceptional growth and development and the 
board is very grateful to Andy for his many years of dedicated service, and we 
all wish him well for the future." 
 
Andy Skelton does not currently hold any directorships of publicly quoted 
companies and has not held any during the last five years. 
 
Save as disclosed above, there are no other disclosures required in respect of 
Andy Skelton pursuant to Rule 9.6.13 of the Listing Rules. 
 
Remuneration 
 
Andy Skelton's remuneration package will consist of a basic salary and variable 
incentive arrangements which are in line with Fidessa's current remuneration 
policy and practice. A summary of Andy's remuneration package on appointment is 
as follows: 
 
  * Andy will receive a basic salary of GBP300,000. He will be eligible for an 
    annual bonus at a similar level to his predecessor and 50% of any bonus 
    payable will be in form of deferred shares, using the Deferred Annual Bonus 
    Plan ("DABP"), that will vest after three years. Andy will also be granted 
    an award under the Performance Share Plan ("PSP") which will vest after 
    four years subject to the achievement of performance conditions; that award 
    will be granted at the next general grant under the PSP to senior 
    management expected to occur during 2016. 
  * Andy will receive an award shortly after appointment of deferred shares 
    using the DABP that will vest after three years. This award represents a 
    buyout of remuneration which will be forfeited on leaving his previous 
    employer. 
  * Andy will also receive a relocation allowance during his first year. 
  * Finally, Andy will receive the standard Fidessa benefits package as set out 
    in the most recent Directors' Remuneration Report. 
 
Full details of the remuneration package will be disclosed in the relevant 
Annual Report on Remuneration. 
 
 
 
END

(END) Dow Jones Newswires

August 18, 2015 02:52 ET (06:52 GMT)

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