16 January 2015 - Melbourne, Australia – Ansell Limited (ASX:ANN), a global leader in protection solutions, today announces that its Chief Executive Officer and Managing Director, Mr. Magnus Nicolin, will be based in Ansell’s EMEA office in Brussels with effect from January 19, 2015, while retaining his current office in Ansell’s Iselin, N.J. location. It is expected he will, as he does currently, broadly split his office-based time between these two key Ansell hub locations. Mr. Nicolin will be also relocating his primary place of residence from the United States of America to Brussels, Belgium.
The move will provide more effective access to other key Ansell locations, and in particular, Ansell’s Malaysian hub offices and Ansell’s many Asian factory locations.
Ansell will retain its four Global Hub offices with a global operating HQ in New Jersey, USA, a registered corporate head office in Melbourne, Australia, as well as corporate HQ locations in Brussels, Belgium and Cyberjaya, Malaysia.
The move is consistent with Ansell’s strategy to build a flexible global organization with key hub locations and management centers of excellence across major markets.
To facilitate this transfer, Mr. Nicolin has entered an agreement with Ansell’s Belgian legal entity to replace his current employment agreement. Ansell will provide a one-off lump-sum payment to assist Mr. Nicolin in relocating his residence. The payment will be carried forward from an unused relocation benefit which was part of Mr. Nicolin’s original terms of employment with Ansell in 2010. All material terms relating to remuneration, term, duties and termination provisions are unchanged from those disclosed in the 2014 Annual Report of Ansell Limited.