Company Announcements

Chief Financial Officer Succession

Source: RNS
RNS Number : 8784D
DCC PLC
24 February 2020
 

 

24 February 2020

 

Chief Financial Officer succession announced

 

DCC plc, the leading international sales, marketing and support services group, announces that Fergal O'Dwyer, who has been Chief Financial Officer since 1994, has decided to retire from the Group after 31 years of service. He will stand down from his executive position and from the Board following the conclusion of DCC's Annual General Meeting on 17 July 2020.

 

Fergal will be succeeded as Chief Financial Officer by Kevin Lucey, Head of Capital Markets, who will be appointed to the Board of DCC as an Executive Director, following the conclusion of the Annual General Meeting.

 

Kevin joined DCC in 2010. He has been Head of Capital Markets since 2017 and was previously the Head of Group Finance (2015 to 2017) and Finance & Development Director of DCC Technology (2010 to 2015).  

 

Prior to joining DCC, Kevin was Chief Financial Officer and a Director of a leading Irish private equity firm. He qualified as a Chartered Accountant with KPMG, Dublin.

 

John Moloney, Chairman of DCC plc, said today:

 

"I want to acknowledge Fergal's successful track record in the financial leadership of the Group.  His exceptional commitment and dedication over many years has contributed greatly to the successful growth and development of DCC.

 

The Group has engaged in a comprehensive process over time to identify Fergal's successor. This has been led by Chief Executive, Donal Murphy, with detailed oversight by the Nomination and Governance Committee  and external input from an international executive search firm.

 

Following the process, the Nomination and Governance Committee unanimously supported the appointment of Kevin Lucey as Chief Financial Officer and recommended his appointment to the Board.

 

I look forward to welcoming Kevin to the Board and to the position of Chief Financial Officer."

 

There are no details to be disclosed under Listing Rule 9.6.13 (1) to (6) of the Listing Rules of the Financial Conduct Authority in respect of Mr. Lucey. Details of Mr. Lucey's remuneration as Chief Financial Officer, which are fully in line with DCC's Remuneration Policy, will be disclosed in the 2020 Annual Report.

 

For reference:                                                                                                                                 

Donal Murphy, Chief Executive                                

Fergal O'Dwyer, Chief Financial Officer

 

Telephone: +353 1 2799400                                                        

Email: investorrelations@dcc.ie                                

Web: www.dcc.ie

 

Powerscourt (Media)

Lisa Kavanagh / Victoria Palmer-Moore

Telephone: +44 20 7250 1446

Email: DCC@powerscourt-group.com

 

Wilson Hartnell (Irish Media)

Brian Bell

Telephone: +353 1 669 0030

 

 

About DCC plc

DCC is a leading international sales, marketing and support services group with a clear focus on performance and growth. It operates through four divisions: LPG, Retail & Oil, Technology and Healthcare. DCC plc is listed on the London Stock Exchange and is a constituent of the FTSE 100. In its financial year ended 31 March 2019, DCC generated revenue of £15.2 billion and operating profit of £460 million. 


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