25 January 2021

James Fisher and Sons plc (FSJ.L)

Board Change

James Fisher and Sons plc ("James Fisher" or the "Company"), the leading international marine services provider, is pleased to announce that it has appointed Angus Cockburn as Non-Executive Chairman with effect from 1 May 2021, when he will join the Board.

As announced on 27 February 2020, Malcolm Paul informed the Board of his intention to retire as Chairman and a Non-Executive Director of the Company once a successor had been identified.   Malcolm will retire as a Director on 30 April 2021, following the Company's Annual General Meeting ("AGM").

Angus is currently Group Chief Financial Officer at Serco Group Plc, a position he has held since October 2014. He will step down from the Serco Board at its AGM in April 2021.   Angus's previous roles have included Chief Financial Officer and Interim Chief Executive of Aggreko plc, Managing Director of Pringle of Scotland and senior finance positions at PepsiCo Inc. 

He is a chartered accountant with an MBA from the IMD Business School in Switzerland and is an Honorary Professor at the University of Edinburgh and a member of the Institute of Chartered Accountants of Scotland. Angus is currently a Non-Executive Director of Ashtead Group plc and the privately owned Edrington Group Limited.   He was previously Non-Executive Director of Howdens Joinery Group plc and GKN plc.

Malcolm Paul commented:

"James Fisher is an outstanding company and it has been an honour to be its Chair. The Company has demonstrated great resilience in the recent challenging times, and I believe I leave it well-positioned to weather the current issues and grow strongly in the future. I am proud of the efforts of all my colleagues across the Group and would like to thank them personally for their extraordinary commitment. James Fisher has a refreshed and experienced Board, well placed to oversee the execution of the Company's strategy. I wish Angus and James Fisher continued future success."

Angus Cockburn commented:

"I am delighted to take the Chair of James Fisher.  I look forward to working with the Board at an important and challenging time for the Company and all its stakeholders."

This announcement is made pursuant to the Company's obligations under Listing Rule 9.6.11R.

There is no further information to be disclosed under Listing Rule 9.6.13R.

For further information:

Remuneration disclosure:

Malcolm Paul will receive no remuneration in respect of his role other than his usual fee (£210,125 per annum) pro-rated to the date of his departure.  He is entitled to reimbursement of his legitimately incurred expenses in accordance with the Company's expenses policy.

Angus Cockburn will be paid an annual fee for his services as a Non-executive Director and Non-executive Chair of the Company of £210,125.  He will receive no other remuneration from the Company. He will be entitled to reimbursement of his legitimately incurred expenses in accordance with the Company's expenses policy.