Packaging and paper manufacturer Mondi has appointed Mike Powell as its new CFO and executive director with an effective date yet to be announced.
Following a thorough recruitment process involving internal and external candidates, Powell was appointed to succeed Andrew King, who was appointed as Mondi’s group CEO in April.
Powell has a BSc in computer science and accounting from the University of Manchester, in the UK, and is an associate of the Chartered Institute of Management Accountants.
He started his career at UK-based glass manufacturer Pilkington, spending 15 years in a variety of finance and operational roles.
Powell then went on to become CFO at glass and glazing systems company Nippon Sheet Glass and then chemicals company AZ Electronic Materials. He was subsequently appointed group FD at aviation services company BBA Aviation before taking up his current role as group CFO at Ferguson.
Powell was also a nonexecutive director of building material company Low & Bonar from December 2016 to May this year.
King says Powell has significant financial and strategic experience having been CFO and an executive director of a number of large international listed companies, most recently for plumbing and heating company Ferguson.
He adds that Powell’s clear operational focus, strong leadership experience and knowledge of operating in large industrial groups across a variety of geographies will be instrumental in driving forward Mondi’s strategy.
Powell says he is eager to develop and grow the business, delivering Mondi’s strategy and helping to ensure its long-term sustainable future.