SIG names Pim Vervaat as new CEO and future chair

LONDON - SIG plc (LON:SHI) announced Tuesday the appointment of Pim Vervaat as its new Chief Executive Officer, effective October 1, 2025, with plans for him to later transition to Non-Executive Chair.

Vervaat will succeed Gavin Slark, who submitted his resignation in May. SIG has placed Slark on garden leave, effective immediately, until his employment ends on December 31, 2025.

According to the company’s statement, Vervaat is expected to transition to the role of Non-Executive Chair in approximately 18 months, when current Chair Andrew Allner steps down after completing his term that began in November 2017.

Vervaat, a Dutch national, most recently served as CEO of Constantia Flexibles, a €2 billion turnover flexible packaging company acquired by One Rock in 2024. He previously led UK-listed RPC (NYSE:RES) Group as CEO from 2013 to 2019 after serving as its CFO from 2007 to 2013. He currently holds the position of Senior Independent (LON:IOG) Director at Luceco plc.

"He has significant experience of operating in decentralised European businesses and a strong track record of delivering shareholder value," said Andrew Allner, SIG’s Non-Executive Chair, in the press release.

Vervaat will join SIG with a base salary of £750,000, inclusive of bonus, pension, and benefits entitlements. The company plans to grant him a one-off recruitment award of restricted share units valued at 285% of his base salary, subject to shareholder approval at an upcoming General Meeting.

Until Vervaat takes office, CFO Ian Ashton will oversee the group’s day-to-day operations, working with the company’s existing business leaders.

Vervaat has indicated his intention to acquire approximately £375,000 worth of SIG shares before his appointment takes effect.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.