HISTORIC PRESS RELEASE : Private sector appointments aid modernising of the Royal Mint [March 2000]

The press release issued by HM Treasury on 30 March 2000.

A new shareholder panel of private sector managers and analysts, and the appointment of two new non-executive directors will bring greater private sector expertise into the running of the Royal Mint, Economic Secretary, Melanie Johnson, said today.

Welcoming the announcement, Miss Johnson said:

“These appointments are a key element in our programme of reform for the Royal Mint.

“The new shareholder panel will inject greater private sector expertise into the Mint and provide a more rigorous shareholder discipline. The appointment of two new non-executive directors will enhance the commercial expertise on the Mint’s Board.

“I am delighted to announce that John Dean, Hugh Beevor and Stephen Dawson have all agreed to become members of the new Royal Mint shareholder panel, and that Jan Smith and David Stark have agreed to become Royal Mint non-executive directors.

“We are very fortunate that five such high quality individuals have agreed to work with us in taking forward our programme of reform at the Royal Mint.

“The shareholder panel is an important innovation in the Government’s approach to managing public sector assets. We will be reviewing its operation after two years in part to see what lessons can be learned for other bodies in the public sector.”

Shareholder Panel

John Dean of Warburg Dillon Read – an investment analyst experienced in the smaller engineering companies sector. He was again ranked first in the 1999 Reuters survey of UK smaller engineering companies analysts. As part of his experience in the City, Mr Dean has considerable regional experience having worked as an engineering firms analyst in the traditional manufacturing areas of the North East and the West Midlands.

Hugh Beevor, formerly of Blue Circle Industries PLC has extensive experience of managing the relationship between a parent company and its subsidiaries. He was a main board director at Blue Circle with responsibility for 12 building materials companies. He is currently a governor of the Institute of Development Studies.

Stephen Dawson of ECI Ventures Ltd is managing director of a successful venture capital company, with over 20 years experience of investing in growth companies and turnarounds.

Non-Executive Directors

Jan Smith, formerly of the RAC, First Direct and Mazda Cars (UK) Ltd, now with her own consultancy has extensive business experience and a particular expertise in marketing. Her track record includes responsibility for the marketing launch of First Direct and the rebranding of the RAC where she was a member of the executive operating committee.

David Stark – formerly of Tomkins PLC and now of Chairman of Glentay Ltd served on the Board of Tomkins for 11 years. He is a qualified engineer and at Tomkins was responsible for 29 of the group’s companies, including all their European engineering companies and associated worldwide distribution companies. He is a member of the Competition Commission.