VESUVIUS, the molten metal flow engineering business, has appointed Guy Young as chief financial officer with effect from 1 November 2015.
Young replaces Chris O’Shea who, as previously announced, steps down from the board of Vesuvius today.
He joins Vesuvius, having most recently served as CFO of Tarmac, the British building materials company. He previously held a number of senior financial and business development positions at Anglo American.
Young will receive a base salary will be £325,000 and will be eligible for an annual bonus of up to 100% of base salary. As a consequence of joining Vesuvius, Young is expected to forfeit certain long-term incentives from his current employer. In order partially to compensate him for this, he will receive a one-off restricted award of Vesuvius shares with a maximum value of £150,000.
Bill Kelly, presently vice president finance for the foundry division, will be appointed interim CFO until Young joins the board.
John McDonough, chairman of Vesuvius, said: “Guy brings a wealth of financial and operational insight gained through his extensive international experience in the mining and industrial sectors, which will add to the knowledge of the board and the executive management team of Vesuvius.”