Serco Group
plc ("Serco" or the "Company")
Mark Irwin to retire; Anthony Kirby appointed Group Chief
Executive designate
13 January
2025
Serco, the provider of services and support to
governments internationally, today announces the retirement of Mark
Irwin and the appointment of Anthony Kirby as Group Chief Executive
designate.
After 12 years with Serco, Mark Irwin has
advised the Board of his intention to retire as Group Chief
Executive. Mark will step down from his role on 28 February
2025 and will continue to serve as a strategic adviser through a
transition period.
Anthony Kirby, currently CEO of UK &
Europe, the Group's largest division, will succeed Mark as Group
Chief Executive from 1 March 2025.
Mark Irwin said: "It has been a true privilege
to lead Serco and I am delighted with the progress we have made in
the last few years, especially on keeping our colleagues safer,
delivering consistently strong financial performance and developing
the biggest pipeline in more than a decade to meet our strategic
growth goals. I know that Anthony will continue to build on
these solid foundations. I am eternally grateful to all my
colleagues across the Group for their hard work and commitment in
delivering these outcomes as we worked together to deliver on our
purpose to impact a better future for people, place, and
planet."
Anthony Kirby said: "It is an honour to be
selected to lead this amazing company, of which I have been a part
for seven years. Serco is in good shape, with great people
and an exciting future. I am confident we can continue to
build on our strategy, strengthen our position further and provide
outstanding solutions, helping customers around the world deliver
superb public services. I want to thank Mark for his
leadership and offer him my best wishes for the future".
John Rishton, Chair of Serco, said: "I would
like to thank Mark for his commitment, dedication, and hard work
over the last 12 years and, in particular, during his time as Group
Chief Executive and wish him well in his future.
I am delighted that Anthony is taking on the
role of Group Chief Executive. Since we attracted Anthony
from Compass Group, he has been part of our internal
succession planning. During this time he has
held a number of critical roles at Serco, including being Group
Chief Operating Officer and successfully leading the UK &
Europe business. The Board is confident that Anthony has the
skills, determination and leadership attributes to deliver against
our strategy."
There is no change to guidance for 2024 or
2025.
This announcement contains inside
information.
NOTES
Remuneration
Full details of Anthony Kirby's remuneration as
Group Chief Executive will be set out in the 2025 Annual
Report. His remuneration will be in line with the Company's
approved Directors' Remuneration Policy, and the main elements will
be:
On taking up the position of Group Chief
Executive on 1 March 2025, Anthony Kirby's basic annual salary will
be £845,000 he will not be eligible for consideration of salary
review until 2026. He will receive pension contributions of
8%, in line with the wider workforce. He will have the
opportunity to earn a maximum of 175% of his basic annual salary in
annual bonus; bonus awards over 100% of salary will be deferred
into shares for three years. He will have a maximum
opportunity of 200% of his basic annual salary in
performance-related long term incentive shares.
Mark Irwin will receive his contractual
entitlement of 12 months' notice, starting at the date of this
announcement (13 January 2025). Serco will continue to pay
Mark up to the end of his employment in accordance with his
contract and the Company's Directors' Remuneration Policy. He
will be entitled to receive a normal annual bonus in respect of
2024 based on audited outcomes of performance metrics, and also a
pro-rated annual bonus in respect of his period of employment
(including notice period) for 2025. If Mark takes on a
position outside Serco beyond a Non-Executive Director role after
he steps down from the Board and before the end of his employment,
the Remuneration Committee may use its discretion to reduce his
entitlement to a bonus in respect of 2025.
As a retiree from Serco, Mark is a 'good
leaver' for the purposes of Serco's share
plans. The post holding period
relating to Mark's shares awarded whilst in the role of Group Chief
Executive, will apply as per the plan rules.
A statement concerning particulars of
remuneration payments in accordance with section 430(2B) of the
Companies Act 2006 will be published.
Other
information
In relation to Listing Rule 6.4.8, Anthony
Kirby has been a Non-Executive Director of Hays plc since 1 April
2024. There are no other details to disclose in relation to
Anthony Kirby.
The Company has a policy which allows the
Executive Directors to accept directorships of other quoted
companies and to retain the fees paid. In accordance with the
UK Corporate Governance Code, and to ensure sufficient time is
devoted to their executive role, no Executive Director would be
permitted to take on more than one non-executive directorship in a
quoted company or the chairmanship of such a company.
Ends.
For further
information, please contact:
Paul Checketts, Head of Investor Relations |
+44 (0) 7718 195 074 |
paul.checketts@serco.com
Scot Marchbank, Group Communications and
Marketing Director | +44 (0) 7958 675 706 |
scot.marchbank@serco.com
Nickesha Graham-Burrell, Group Company
Secretary
David Eveleigh, Group General Counsel
About Serco
Serco brings together the right
people, the right technology and the right partners to create
innovative solutions that make a positive impact and address some
of the most urgent and complex challenges facing the modern
world.
With a primary focus on serving
governments globally, Serco's services are powered by more than
50,000 people working across defence, space, migration, justice,
healthcare, mobility and customer services.
Serco's core capabilities include
service design and advisory, resourcing, complex programme
management, systems integration, case management, engineering, and
asset & facilities management.
Underpinned by Serco's unique
operating model, Serco drives innovation and supports customers
from service discovery through to delivery.
More information can be found
at www.serco.com
LEI: 549300PT2CIHYN5GWJ21