MONDI NAMES POWELL AS CHIEF FINANCIAL OFFICER

PACKAGING and paper company Mondi said yesterday it would appoint Mike Powell (pictured) as group chief financial officer and as an executive director.

In a statement, the company said it would announce the effective date of Powell’s appointment in due course. He will succeed Andrew King, who was appointed Mondi’s group chief executive last month. “We are delighted that Mike will be joining the Mondi team. He has significant financial and strategic experience, having been chief financial officer and an executive director of a number of large international listed companies, most recently Ferguson plc,” King said. “We are confident that Mike’s clear operational focus, strong leadership experience and knowledge of operating in large industrial groups across a variety of geographies will be instrumental in driving forward Mondi’s strategy.” Powell has a BSC in computer science and accounting from the University of Manchester and is an associate of the Chartered Institute of Management Accountants. He started his career at Pilkington, spending 15 years in finance and operational roles before going on to become financial officer at Nippon Sheet Glass and AZ Electronic Materials. He was subsequently appointed group finance director at BBA Aviation before taking up his current role at Ferguson. Powell, who was also a non-executive director of Low & Bonar from December 2016, will be appointed to Mondi’s executive committee with effect from his appointment to the company’s board. Mondi, which has its roots in South Africa, employs about 26 000 people at about 100 production sites in more than 30 countries, mainly in South Africa, as well as Europe, Russia and North America.