SABMiller’s CFO, Jamie Wilson, has resigned from his position after citing personal reasons, the world’s second biggest brewer said on Thursday.
The brewer said Wilson stepped down from the board with immediate effect and would leave SABMiller on 31 March this year 2015, which is the end of the current financial year.
SABMiller said Domenic De Lorenzo, currently Director of Group Strategy and a member of the group’s executive
committee, would become acting CFO with immediate effect, reporting to CE, Alan Clark. The search for a permanent replacement for Wilson had started already, SABMiller said.
Clark said he was saddened by Wilson’s departure as he had been a huge support to him over the years, first in Europe and then over the past several years as CFO.
“His contributions to the development of our strategy, the delivery of our business capability programme, the building of our new business efficiency programme, and the strengthening of the finance functions will be a lasting legacy,” Clark said.
“He leaves the group in sound financial health, and we all wish him every success in the future,” he added. De Lorenzo assumed responsibility last year for group strategy alongside his previous responsibilities as Director of Corporate Finance and Development.
He is a chartered accountant by training, and has been closely involved in the group’s finance strategy since his appointment to the executive committee in 2011.
He is a 19-year veteran of the group, having originally joined in South Africa in 1996. Wilson will be on gardening leave from 18 February 2015 until 31 March 2015, during which period he will assist the company with an orderly transition and handover of responsibilities, and will continue to receive his base salary and contractual benefits in full.
Wilson will be entitled to receive a short term incentive bonus in respect of the year ended 31 March 2015, which will be calculated and paid in the normal way in late May 2015.
He will, among other things, receive a payment of £762,200 representing his base pay in lieu of notice for his contractual notice period of 12 months, subject to mitigation and to his not taking up employment during this period without the consent of the CE of SABMiller plc.
