THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
AVEVA GROUP PLC
AVEVA Group plc ('AVEVA' or 'the Group'), a global leader in engineering and industrial software, announces that CEO, Craig Hayman, has decided to return to the USA for personal reasons and will leave the Group after the AGM in July. His employment will cease at the end of his notice period (31 January 2022).
During his three-year tenure, Craig has overseen the successful integration following the combination with the Schneider Electric industrial software business, the progress of the Group to a FTSE50 position, and the completion of the acquisition of OSIsoft. The Board would like to thank Craig for his service as CEO and wish him all the best for the future.
Peter Herweck will be seconded from Schneider Electric on request of the AVEVA Board to the role of AVEVA's CEO, effective 1 May 2021. Peter, who is currently Executive Vice President, Industrial Automation of Schneider Electric, has over 30 years of experience in automation, digitalisation and industrial software and his experience, not just with Schneider Electric but previously with Mitsubishi and Siemens, will be invaluable as AVEVA integrates the business of OSIsoft and continues its ambitious growth strategy.
AVEVA's Chairman, Philip Aiken AM, said,
"I would like to acknowledge Craig's three years of dedicated service as AVEVA's CEO. His contribution will resonate in future years as we see the ongoing benefits of the merger of AVEVA and Schneider Electric's industrial software businesses and the recently acquired OSIsoft consolidating AVEVA's prime position in the world of industrial software.
Peter Herweck is very familiar with AVEVA's business having served on AVEVA's Board since 2018, more recently as Vice Chairman. He brings very significant experience in operating and integrating software businesses and is the ideal appointment at this stage of AVEVA's development, supported by an experienced executive team that is well versed in integration programs."
Craig Hayman's resignation arrangements will remain in line with AVEVA's Remuneration Policy. AVEVA will make available the details required by section 430(2B) of the Companies Act 2006.
The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.
The person responsible for arranging for the release of this announcement on behalf of the Company is James Kidd, Deputy CEO and CFO.
AVEVA Group plc
Matthew Springett, Head of Investor Relations: +44 (0) 1223 556 676
FTI Consulting LLP
Edward Bridges / Dwight Burden: +44 (0) 203 727 1000