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- Metcash Limited (MTS) announces the appointment of Doug Jones as a new director of the company
- Mr Jones assumes day-to-day operational leadership of MTS from retiring Group CEO Jeff Adams
- Mr Jones joined Metcash on February 1 and has been working closely with Mr Adams to ensure a smooth transition
- Mr Jones will take over as Group CEO when Mr Adams departs in October 2022
- MTS shares have lifted 0.24 per cent, trading at $4.19
Metcash Limited (MTS) has announced the appointment of Doug Jones as a new director of the company. Mr Jones has assumed the day-to-day operational leadership of the company from retiring Group CEO Jeff Adams.
Mr Jones joined Metcash on February 1 and has been working closely with Mr Adams to ensure a smooth leadership transition.
Mr Jones, who was formerly the CEO and Senior Vice President of South African-based Massmart Wholesale, will succeed Mr Adams as Group CEO. Mr Adams will remain as the CEO until his departure in October 2022.
Mr Adams notified the board of directors of his intention to retire from the company last October to return to his family in the US after successfully navigating Metcash through the COVID-19 pandemic.
The appointment comes with an annual salary of $1.75 million with a four-year fixed term agreement. Short term incentives at 70 per cent of the fixed remuneration and long-term incentives at 80 per cent remuneration are also available, subject to shareholder approval.
Metcash shares have risen 0.24 per cent, trading at $4.19 per share at 1:52 pm AEDT.
