Appointment of Chief Financial Officer Designate
Vivo Energy plc
(Incorporated in England and Wales)
(Registration number: 11250655)
(Share code: VVO)
25 November 2020
Vivo Energy plc
LSE:VVO / JSE:VVO
Appointment of Chief Financial Officer Designate
Vivo Energy announces that Johan Depraetere, Chief Financial Officer, has informed the Company that
he intends to retire from his role in the first half of 2021. Johan has been instrumental in the
development and growth of the business since he joined in 2012 and the Board would like to express
their sincere gratitude to him for his efforts.
As part of an orderly succession process, the Board is pleased to announce that Douglas (“Doug”)
Lafferty has been appointed as Chief Financial Officer Designate. Doug will take up his position and be
appointed to the Board with effect from 1 February 2021. After an initial transition period, he will
become Chief Financial Officer on 5 March 2021, with Johan leaving the business once a suitable
transition period is complete.
Doug brings a wide range of experience to the role having most recently been the Chief Financial
Officer and Executive Director of Williams Grand Prix Holdings plc, from September 2017 until the
recent conclusion of its strategic review process, sale of its Formula One business and delisting from
the Frankfurt Stock Exchange. Prior to this he held a range of senior positions at British American
Tobacco, including Regional Head of Finance for the Americas and Group Head of Commercial
Commenting on the news, Christian Chammas, Chief Executive Officer said, “It has been
a great pleasure working alongside Johan over the last eight years to build Vivo Energy into the
company it is today, and he will be sorely missed by all of us. We wish him all the best for the future.
Whilst we are sad to see Johan go, we are delighted to welcome Doug as his successor. The Board
and I believe his track record of financial leadership, exposure to emerging markets and commercial
acumen mean that he is ideally suited to the role. We are looking forward to working with Doug as
we continue to capitalise on the exciting growth opportunities for Vivo Energy.”
Commenting on the news, Johan Depraetere, Chief Financial Officer, said: “I have
thoroughly enjoyed my eight years at Vivo Energy and will miss the team and great colleagues. I am
immensely proud of all we have achieved during this time. Vivo Energy is a fantastic company with
many exciting opportunities ahead of it, and I wish it every success for the future. I look forward to
working with Doug to ensure an orderly handover of responsibility before I take a break from
corporate life to spend time with my family.”
There are no other matters to disclose under Listing Rule 9.6.13.
Notes to editors:
Media contacts: Investor contact:
Vivo Energy plc Vivo Energy plc
Rob Foyle, Head of Communications Giles Blackham, Head of Investor Relations
+44 7715 036 407 +44 20 3034 3735 / +44 7714 134 681
Martin Robinson, Suniti Chauhan
+44 20 7353 4200
Doug Lafferty's remuneration arrangements will be in accordance with Vivo Energy’s Remuneration Policy (the "Policy"),
which was approved by shareholders at the Annual General Meeting in July 2019. He will receive a base salary of £400,000,
and standard benefits and incentive awards commensurate with his position. He will also receive a pension allowance of 10%
base salary, which is in line with that received by the UK workforce. He will also be required to build up and maintain a
minimum shareholding equal to 200% of base salary within 5 years of his appointment. Full details of his total remuneration
will be included in the 2020 Annual Report.
About Vivo Energy:
Vivo Energy operates and markets its products in countries across North, West, East and Southern Africa. The Group has
a network of over 2,200 service stations in 23 countries operating under the Shell and Engen brands and exports lubricants
to a number of other African countries. Its retail offering includes fuels, lubricants, card services, shops, restaurants and other
non-fuel services. It provides fuels, lubricants and liquefied petroleum gas (LPG) to business customers across a range of
sectors including marine, mining, construction, power, transport, wholesalers and manufacturing. The Company employs
around 2,700 people and has access to over 1,000,000 cubic metres of fuel storage capacity and has a joint venture, Shell and
Vivo Lubricants B.V., that sources, blends, packages and supplies Shell-branded lubricants.
For more information about Vivo Energy, please visit www.vivoenergy.com
This announcement includes forward-looking statements. These forward-looking statements involve known and unknown risks and
uncertainties, many of which are beyond the Company's control and all of which are based on the Directors' current beliefs and
expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such
as: "believe", "expects", "may", "will", "could", "should", "shall", "risk", "intends", "estimates", "aims", "plans", "predicts", "continues",
"assumes", "positioned", "anticipates" or "targets" or the negative thereof, other variations thereon or comparable terminology. These
forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this report
and include statements regarding the intentions, beliefs or current expectations of the Directors or the Group concerning, among other
things, the future results of operations, financial condition, prospects, growth, strategies of the Group and the industry in which it
No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks
and uncertainties facing the Group. Such risks and uncertainties could cause actual results to vary materially from the future results
indicated, expressed, or implied in such forward-looking statements.
Such forward-looking statements contained in this report speak only as of the date of this announcement. The Company and the
Directors expressly disclaim any obligation or undertaking to update these forward-looking statements contained in the document to
reflect any change in their expectations or any change in events, conditions, or circumstances on which such statements are based,
unless required to do so by applicable law.
JSE Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
Date: 25-11-2020 09:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.