| Fri 31 Jul 2009, 12:20 | | SAB - SABMiller Plc - SABMiller plc announces new non-executive director |
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SAB
SOSAB
SAB - SABMiller Plc - SABMiller plc announces new non-executive director
SABMiller plc
JSEALPHA CODE : SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
Ref XX/2009
31 July 2009
SABMiller plc announces new non-executive director
SABMiller plc announces today that Mr Howard Willard will join the board of
SABMiller plc with effect from 1 August 2009. Mr Willard has been nominated
for appointment to the Board under the terms of the Relationship Agreement
entered into between Altria Group, Inc. ("Altria") and SABMiller as part of
the Miller Brewing Company transaction in 2002.
Mr Willard currently serves as Executive Vice President, Strategy and Business
Development for Altria and is a member of Altria`s senior management team. He
has held various leadership positions at Philip Morris USA Inc. in Finance,
Sales, Information Services and Corporate Responsibility. Before joining the
Altria family of companies in 1992, Howard worked at Bain & Company and at
Salomon Brothers, Inc. He currently serves on the board of the YMCA in
Greater Richmond, Virginia.
Under the terms of the Relationship Agreement, Altria has the right to
nominate up to three representatives for appointment as non executive
directors of SABMiller. Since 2004, in order to assist SABMiller to apply the
provision of the Combined Code that at least half the directors, excluding the
Chairman, should be independent non-executive directors, Altria has elected
not to exercise its right to nominate a third director. Now that the Board of
SABMiller consists, in addition to the Chairman, of eight directors whom the
Board has determined to be independent for the purposes of the Combined Code
and six directors whom the Board has determined not to be independent, the
appointment of a third director nominated by Altria will no longer result in
this requirement of the Combined Code not being met. In addition, as neither
of the two directors currently nominated by Altria are now members of Altria`s
executive management team, Altria has advised SABMiller that it believes it
appropriate that one of Altria`s nominees should be an executive officer of
Altria.
There are no details to disclose under paragraphs 9.6.13(1) to (6) of the
Listing Rules.
John Davidson
General Counsel and Group Company Secretary
Ends
Notes to editors:
SABMiller plc
SABMiller plc is one of the world`s largest brewers with brewing interests and
distribution agreements across six continents. The group`s wide portfolio of
brands includes premium international beers such as Grolsch, Miller Genuine
Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as market-leading
local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller
is also one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2009, the group reported US$3,405 million adjusted
pre-tax profit and group revenue of US$25,302 million. SABMiller plc is
listed on the London and Johannesburg stock exchanges.
Altria Relationship Agreement
Altria Group, Inc ("Altria") is the largest single shareholder in SABMiller
plc, holding approximately 27.37% of the issued share capital of SABMiller
plc, excluding treasury shares, as at 30 June 2009. Under the terms of the
Relationship Agreement entered into between Altria and SABMiller as part of
the Miller Brewing Company transaction in 2002, and amended, with
shareholders` approval, in 2005 as part of the Bavaria transaction, Altria has
the right to nominate up to three representatives for appointment as non
executive directors of SABMiller, subject to the level of its economic
interest in SABMiller, and any disposals of shares in SABMiller are subject to
orderly market arrangements.
This announcement is available on the company website: www.sabmiller.com
High resolution images are available for the media to view and download free
of charge from www.sabmiller.com or www.newscast.co.uk
Enquiries:
Tel: +44 20 7659 0100
SABMiller plc
Sue Clark Director of Corporate Tel: +44 20 7659 0184
Affairs
Gary Leibowitz Senior Vice President, Tel: +44 20 7659 0174
Investor Relations
Jonathan Oates Media Relations Tel: +44 20 7659 0144
This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire securities of SABMiller plc (the
"Company") or any of its affiliates in any jurisdiction or an inducement to
enter into investment activity.
This document includes "forward-looking statements". These statements may
contain the words "anticipate", "believe", "intend", "estimate", "expect" and
words of similar meaning. All statements other than statements of historical
facts included in this announcement, including, without limitation, those
regarding the Company`s financial position, business strategy, plans and
objectives of management for future operations (including development plans
and objectives relating to the Company`s products and services) are forward-
looking statements. These forward-looking statements involve known and
unknown risks, uncertainties and other important factors that could cause the
actual results, performance or achievements of the Company to be materially
different from future results, performance or achievements expressed or
implied by such forward-looking statements. These forward-looking statements
are based on numerous assumptions regarding the Company`s present and future
business strategies and the environment in which the Company will operate in
the future. These forward-looking statements speak only as at the date of
this announcement. The Company expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any forward-looking
statements contained in this announcement to reflect any change in the
Company`s expectations with regard thereto or any change in events, conditions
or circumstances on which any such statement is based. Any information
contained in this announcement on the price at which the Company`s securities
have been bought or sold in the past, or on the yield on such securities,
should not be relied upon as a guide to future performance.
Date: 31/07/2009 12:20:01 Produced by the JSE SENS Department.
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