Coca-Cola HBC AG
Composition of the Committees of the Board of Directors of Coca-Cola HBC AG and determination of new members of the Board of Directors of Coca-Cola HBC AG
Zug, Switzerland – 27 June 2014 – Coca-Cola HBC AG ("Coca-Cola HBC") announces today that its Board of directors ("Board") has appointed Mr. John P. Sechi as a member of the Audit Committee and Mr. José Octavio Reyes as a member of the Nomination and Social Responsibility Committees, with effect from 27 June 2014. Furthermore, the Board has elected Mr. Anastassis G. David as Vice-Chairman of the Board. These appointments have been made pursuant to the announcements released by Coca-Cola HBC AG on 28 May 2014 and 26 June 2014, and the election of Anastasios I. Leventis, Christo Leventis, José Octavio Reyes and John P. Sechi as non-executive directors following the retirement of Anastasios P. Leventis, Haralambos K. Leventis, John Hunter and Stefan F. Heidenreich from the Board as of the annual general meeting on 25 June 2014 ("AGM").
Coca-Cola HBC’s Board has also determined that Mr. John P. Sechi is independent in character and judgment and that his employment with The Coca-Cola Company prior to 2000 does not represent a material business relationship that is likely to affect, or could appear to affect, his judgement. Consequently, the Board considers Mr. Sechi to be independent in accordance with the criteria set out in the UK Corporate Governance Code. In addition, the Board considers that Mr. Sechi, as a member of the Audit Committee, meets the independence criteria of Rule 10A-3 under the US Securities Exchange Act of 1934. The Board considers the other newly-appointed non-executive directors, Anastasios I. Leventis, Christo Leventis and José Octavio Reyes, not to be independent for purposes of the UK Corporate Governance Code, due to the existing business relationships with Coca-Cola HBC’s major shareholders, Kar-Tess Holding S.A. and The Coca-Cola Company which could be considered material.
Aside from the information set out above, no further information is required to be disclosed pursuant to the UK Financial Conduct Authority's Listing Rule 9.6.13 and none of the new non-executive directors hold any interests in the shares of Coca-Cola HBC.
This announcement is made pursuant to Listing Rule 9.6.11.
