29 December 2023 – Ansell Limited (ASX:ANN) advises of changes to the contractual arrangements between Ansell and the Managing Director and CEO of Ansell, Mr Neil Salmon.
As foreshadowed in the Ansell Annual Report for the year ended 30 June 2023, the contractual arrangements between Ansell and the Managing Director and CEO of Ansell, Mr Neil Salmon, who was originally employed in the US but subsequently relocated to Belgium, will be transitioned to a new contracting structure with effect from 1 January 2024 due to Belgian legislative changes and in line with common Belgian senior management arrangements.
From 1 January 2024, for the services currently provided by Mr Salmon to the Ansell Group, the Ansell Group will contract with Mr Salmon’s sole purpose management service company in Belgium (to pay for the services provided by the management company (via Mr Salmon)) and have separate agreements with Mr Salmon in his personal capacity under Australian law and under US law. Mr Salmon will remain a director of Ansell Ltd in his personal capacity.
Mr Salmon and his management company will be entitled to the same aggregate remuneration under the new arrangements and there will be no additional cost to Ansell as a result of the revised arrangements.
All other key non-financial terms of Mr Salmon's arrangements, as announced on 8 June 2021 following his appointment, including his notice provisions and post-employment restraints, remain the same in all substantive respects.
This announcement is required under ASX listing rule 3.16.4 and was authorized for release by the Board of Directors of Ansell Limited.