Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Brambles Industries (BI.)

  Print      Mail a friend

Thursday 12 February, 2004

Brambles Industries

Directorate Change

Brambles Industries PLC
11 February 2004

Company number: 4134697

Michael Ihlein appointed Brambles Chief Financial Officer

Brambles Industries Limited and Brambles Industries plc today announced that
Michael Ihlein will join Brambles as Chief Financial Officer on 22 March 2004.

Mr Ihlein will also be appointed to the Boards of Brambles as an Executive

Mr Ihlein, 48, joins Brambles after a long career with Coca-Cola Amatil Limited
(and related companies) where he has been Chief Financial Officer since February
1997. He was Managing Director of Coca-Cola Amatil, Poland, from 1995??97 and
previously held senior business development and treasury roles with the company.

David Turner, Brambles Chief Executive Officer, said: 'I am delighted to welcome
Mike to Brambles. He is a proven CFO of a major Australian listed company with
international operations.

'With his strengths across the spectrum of finance and related disciplines,
combined with his valuable international operational experience, Mike will be a
strong addition to the Brambles team.

'Brambles is focussed on developing the full potential of all its businesses and
on the continuing execution of the restructuring programme in CHEP. I look
forward to Mike's significant contribution to the group.'

Mr Ihlein will be based in Sydney, Australia.

He will receive a total fixed remuneration package of A$1.5 million and will
participate in Brambles' long and short term incentive plans. He will also
receive certain sign-on benefits, details of which are set out below, consisting
of a cash payment and, subject to shareholder approval, a performance share

For further information, contact:

Investor    Sue Scholes, Head of Investor Relations    +44 (0) 20 7659 6012
Media       Richard Mountain, Financial Dynamics       +44 (0) 20 7269 7291

Investor    John Hobson, Head of Investor Relations    +61 (0) 2 9256 5216
                                                       Mobile +61 (0) 414 239 188

Media       Jeannette McLoughlin,                      +61 (0) 2 9256 5255
            Group General Manager, Corporate           Mobile +61 (0) 401 990 425

Brambles is globally headquartered in Australia


Michael Ihlein - Career History


Chief Financial Officer

Coca-Cola Amatil Limited


• Appointed to CCA Board February 1997.

• Responsibility for CCA's finance and accounting functions, comprising
controllership, planning and reporting, taxation, risk and insurance, treasury,
investor relations, group strategic procurement and, until mid 2001, business
information systems.

• Responsibility for restructuring, acquisition and divestment


Managing Director, Coca-Cola Amatil, Poland


Coca-Cola Amatil Limited


1994-95          Business Development Director

1993-94          Business Development Manager

1989-93          Group Treasurer

1985-89          Treasury Manager

1983-85          Senior Treasury Analyst

1981-83          Financial Analyst


WD & HO Wills (Australia) Limited

(subsidiary of Coca-Cola Amatil Limited until 1989)

• Various financial roles

Additional information

• Bachelor of Business Studies (Accounting), University of Technology,

• Associate of Securities Institute of Australia

• Member of the Australian Institute of Company Directors

• Certified Practising Accountant (ASCPA)

• Director, Financial Executives International of Australia

Mr Ihlein resides in Sydney, Australia.

He is married with one adult child.


A leading global support services provider with operations in almost 50
countries. Brambles employs approximately 30,000 people and has assets of A$9.5
billion/£3.7 billion.

Its global businesses are CHEP (the global leader in pallet and plastic
container pooling services), Cleanaway (waste management and recycling), Recall
(information management) and Brambles Industrial Services (support services to
heavy industry).

Brambles operates under a dual listed companies structure. Brambles Industries
Limited is listed on the Australian Stock Exchange and Brambles Industries plc
is listed on the London Stock Exchange. Its global headquarters is in Sydney,

Coca-Cola Amatil

Coca-Cola Amatil is the largest bottler of non-alcoholic beverages in the Asia
Pacific region. It operates in six countries: Australia, Indonesia, Fiji, New
Zealand, PNG and South Korea.

In 2003, CCA's revenue from sale of beverages was A$3.4 billion.

Michael Ihlein - Remuneration Details


• Total fixed remuneration (TFR), comprising salary and all benefits
other than incentive plans - A$1.5 million

• Participation in Brambles' long and short term incentive plans.

Short Term Incentive Plan

-          If performance targets are achieved, the short term incentive
opportunity would be 40% of TFR. If targets are exceeded, the maximum potential
short term incentive opportunity could rise to 80% of TFR. For the current
financial year, plan payments will be determined by performance against two
metrics: profit before tax and goodwill amortisation (90% of the maximum
possible award payable) and personal objectives (10% of the maximum possible

-          In order to receive any payment against personal objectives, a PBTA
threshold figure must be achieved.

-          Short term incentive awards will be pro rated to the actual period of
employment in the current financial year.

Long Term Incentive Plan

-          Award multiple under each element of the plan will be 52.5% of TFR.
Subject to shareholder approval to be sought at the 2004 Annual General
Meetings, the first annual grant of share options and performance shares will be
made using the volume weighted average price of shares in Brambles Industries
Limited for the week up to and including Mr Ihlein's employment start date.
Performance against the specified performance conditions will be measured over
the period from 30 June 2004.

Details of the current Plans were outlined in the Brambles 2003 Annual Report.

A worked example of Mr Ihlein's annual remuneration for 2004 is set out at
Appendix 1.

One-off arrangements

The following sign-on arrangements apply:

• Cash payment of A$300,000 on the first anniversary of employment.

• Subject to shareholder approval, 200,000 performance shares, subject
to prevailing performance hurdles. Performance against these hurdles will be
measured over the period from 30 June 2004.

Contractual terms

Key aspects of contractual terms include:

• The service contract may be terminated by Brambles without cause on
giving 12 months' notice and by Mr Ihlein without cause on giving 6 months'

• Other than for cause or in the event of non-performance, Mr Ihlein
will be entitled to a payment on termination equal to his annual TFR plus any
accrued leave or other entitlements.

• Mr Ihlein would be required to mitigate loss on termination, meaning
any termination payment made by Brambles would be reduced by the amount of any
benefits to be received by Mr Ihlein under any new employment.

Appendix 1

Michael Ihlein - A worked example of annual remuneration for a full financial

Set out below is a worked example of the annual remuneration Mr Ihlein might
receive for a full financial year, if he and Brambles performed to the 'target'
level. To perform at that level, the budget set by the Board at the beginning of
the financial year would need to be achieved and Mr Ihlein would need to meet
his own rigorous personal performance hurdles. The calculations below include
notional values ascribed to Options and Performance Shares, based on certain
assumptions, details of which are set out in the notes to the table. (It should
be noted that Mr Ihlein will only be employed for part of the current financial
year, and therefore his TFR and any short term incentive payment will be pro

Element                Total Fixed    'At risk'      Estimated total
                       Remuneration   remuneration   remuneration at target
                       (TFR)          at target      performance (TFR + 'at
                                      performance    risk' remuneration at
                                                     target performance)
Total Fixed            A$1,500,000
Remuneration (TFR)
(including base
salary, pension
contributions, etc)

Short Term Incentive:                 
• Cash bonus at target                A$600,000 1

Long Term Incentive
(notional values)                     
• Options                             A$63,000 2
• Performance Shares                  A$63,000 2
Total                A$1,500,000     A$726,000            A$2,226,000

Important Notes:

1.         The figure in the above table, which is based on a full year's
employment, assumes the achievement of targeted improvement in Brambles' PBTA in
2004, plus full achievement of personal objectives.

2.         In line with the requirements of the Australian Securities &
Investments Commission, Brambles has adopted an approach to the valuation of
outstanding unvested equity based awards which was detailed in the 2003 Annual
Report. In summary, a modified Black Scholes model is applied to the awards. The
resulting value is then discounted by 60% to reflect the expected probability at
the time of grant of meeting the performance hurdles. The discounted value is
then equally allocated across the vesting period. The basis of, and assumptions
used in, these calculations is consistent with the approach adopted in the 2003
Annual Report and Accounts. They will, however, be reviewed in the context of
the 2004 Annual Report and Accounts in light of applicable rules and practices
at that time. The numbers ultimately disclosed in the 2004 Report and Accounts
may therefore vary from those shown above.

                      This information is provided by RNS
            The company news service from the London Stock Exchange

a d v e r t i s e m e n t