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SABMiller plc directorate change

20 May 2004

The board of directors of SABMiller plc (‘the board’) announces that the following changes to the board and its remuneration committee will take effect after the forthcoming annual general meeting scheduled for 29 July 2004:

  • Mr MJ Levett retires from the board by rotation and will not stand for re-election (Mr Levett is chairman of Old Mutual plc, a shareholder in the Company);
  • Mr LS Camilleri will step down from the board (Mr Camilleri is president and CEO of Altria Group, Inc. (‘Altria’) and is an Altria nominee to the board);
  • Altria does not intend to exercise its right to replace Mr Camilleri with another nominee on the board in the near term;
  • A new, independent non-executive director (who is in the course of being recruited) will be appointed to the board to serve from 1 August 2004;
  • Mr JM Kahn (chairman of the board) will step down from the remuneration committee at the end of July 2004, while Lord Renwick will hand on the chair of the remuneration committee to Mr MQ Morland at that time.

Commenting on the changes Meyer Kahn, chairman of SABMiller plc said:

“We are fortunate to have a board of the highest quality and integrity with a good balance of skills and experience. However to address the requirements of the new Combined Code on directors’ independence, we’re introducing stronger independence on the board and its committees.

“Mike Levett has made an enormous contribution in his 20 years with the company, first on the South African and then on the UK board. He leaves with our gratitude and best wishes for the future. I would also like to thank Louis Camilleri for providing advice and support to the management and to recognise his crucial role on the Miller transaction.”

Ends

Notes to editors

SABMiller plc is one of the world’s largest brewers, with 2003/04 lager sales volumes in excess of 137 million hectolitres. It has a brewing presence in over 40 countries across four continents and a portfolio of strong brands and leading market shares in many of the countries in which it has brewing operations. Outside the USA, SABMiller plc is one of the largest bottlers of Coca-Cola products in the world.

In the year ended 31 March 2004, the group generated US$1,391million pre-tax profit from a turnover of US$12,645 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.

Continuing members of the SABMiller plc board:

Directors:

  • Meyer Kahn, Chairman
  • Ernest Arthur Graham Mackay, Chief Executive
  • Malcolm Ian Wyman, Chief Financial Officer
  • Geoffrey Cyril Bible*
  • Nancy Jane De Lisi*
  • Lord Fellowes
  • Peter John Manser
  • Miles Quintin Morland
  • Ning Goaning (‘Frank Ning’)
  • Lord Renwick of Clifton

* Nominees of the Altria Group, Inc

The announcement is available on www.sabmiller.com

Contacts:

SABMiller plc:

Sue Clark, Tel: +44 20 7659 0184
Director of Corporate Affairs Mob: +44 7850 285471

Ciaran Baker Tel: +44 20 7659 0120
Head of Corporate Communications Mob: +44 7979 954493

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