London-based Vesuvius plc, a molten metal flow engineering and technology firm, announced the appointment of Mark Collis of Aberdeen-based John Wood Group as Vesuvius chief financial officer.
Collis is currently chief financial officer of the operations business of John Wood Group.
Collis will join Vesuvius no later than July 4, 2023, and will succeed Guy Young, who will step down on February 17, 2023.
Collis has over 20 years of senior financial experience in a number of international businesses including Amec Foster Wheeler plc and Expro International Group.
Collis’ base salary will be £420,000 per annum. He will be eligible for an annual bonus of up to 150% of base salary.
He will also be eligible for an annual award of performance shares under Vesuvius‘ share plan of up to 150% of base salary.
Additionally, he will receive a pension allowance of 17% of his base salary, private healthcare and other customary benefits.
Further, Collis will qualify for performance share awards under the Vesuvius share plan and participation in the Vesuvius plc 2023 annual bonus plan, with any payment made in respect of the 2023 annual bonus plan being pro-rated for his length of employment during the 2023 financial year.
As a consequence of joining Vesuvius, Collis may forfeit certain annual and long-term incentives from Wood Group, which Vesuvius plans to compensate.
Richard Sykes will act as the interim CFO of Vesuvius from Young’s departure and will serve in this role until Collins joins the group.
Sykes is currently group vice president, business development, and has held a number of senior finance and business roles within Vesuvius since joining the group in May 1991.
Vesuvius CEO Patrick André said: “I very much look forward to welcoming Mark to Vesuvius.
“His international operational experience and leadership skills will fit very well into our strong performance oriented culture.
“I have no doubt that he will be a great leader for our finance and IT functions and a valued successor to Guy Young.”