Chief Financial Officer succession

09 December 2021

ConvaTec Group Plc (CTEC:LON) announces that the Company’s Board has mutually agreed with Frank Schulkes that he will step down as Chief Financial Officer and as a Director of the Company on 11 March 2022. Frank, who has been with the business since August 2017, will remain to support the company and ensure a seamless and orderly transition.
Jonny Mason has been appointed as Group Chief Financial Officer (Designate) with effect from 31 January 2022, becoming Chief Financial Officer and a Director of the Company from 12 March 2022.

Jonny Mason is a seasoned CFO with an extensive track record in publicly listed and international businesses. He brings strong experience in strategic enterprise transformation and a customer orientation. He was Chief Financial Officer of Dixons Carphone Plc, now known as Currys Plc, between 2018-2021. Before that he was CFO of

Halfords Plc from 2015 and was interim Chief Executive Officer between September 2017 and January 2018. Other roles include being CFO of Scandi Standard AB, CFO at Odeon and UCI Cinemas and Finance Director of Sainsbury’s Supermarkets. Jonny is an engineer and accountant by training and his early career included finance roles with Shell and Hanson Plc.

Karim Bitar, Chief Executive Officer, ConvaTec Group Plc, said:

"On behalf of the Board and my colleagues, I would like to take this opportunity to thank Frank. Under his leadership the finance function has improved, we have stood up the Global Business Service Centre and have strengthened the balance sheet. He has made an important contribution to the Group and provided strong leadership during our transformation as we have started pivoting towards sustainable and profitable growth. We wish him every future success.

“I am delighted to welcome Jonny to ConvaTec. He brings a strong track record of driving growth through transformation and joins us at an exciting point on our journey. He has deep financial acumen and has successfully delivered large complex business transformations in rapidly changing environments. Jonny also has extensive experience leading high-quality Finance and IT teams. I look forward to working with him to bring our vision to life, pioneering trusted medical solutions to improve the lives we touch."

Frank Schulkes, Chief Financial Officer, said:

"It has been a privilege to work at ConvaTec for the last four years. The company has made significant progress in its transformation and growth. I would like to take this opportunity to thank all my colleagues and wish ConvaTec every success for the future. I will be supporting Jonny as he settles in over the coming months and helping to ensure a smooth and effective transition."

Jonny Mason, Chief Financial Officer (Designate), said:

"I am delighted to be joining ConvaTec as it continues pivoting to sustainable and profitable growth and as it pioneers trusted medical solutions to improve lives. I am excited by the significant potential ahead of the Company."


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Frank Schulkes will remain available to assist the Company with the transition until he leaves on 8 December 2022. The remuneration details relating to his departure will be in line with his contractual entitlement and are consistent with the Company’s Remuneration Policy. The Group will provide these details on ConvaTec Group’s website and in the Company’s Directors’ Remuneration Reports in accordance with the Company's statutory obligations.

As incoming Chief Financial Officer, Jonny Mason’s annual salary will be £500,000 per annum and his pension contribution will be 8.5% of salary, in line with the UK workforce. Consistent with the Company’s Remuneration Policy he will have a maximum bonus opportunity of 200% of salary (with 1/3rd of any earned bonus deferred into shares for three years) and participate in the long-term incentive plan with an annual grant value of up to 250% of salary, subject to performance conditions measured over a three-year period with a further two-year holding period. Jonny will be expected to build and maintain a shareholding equivalent of at least 300% of salary over time. Full details of Mr Mason’s remuneration arrangements will be set out in the 2021 Directors' Remuneration Report, which will be published in March 2022.

This announcement is made pursuant to LR 9.6.11 of the Listing Rules. There is no further information to be disclosed under the requirements of LR 9.6.13 (2) to (6) of the Listing Rules in relation to Jonny Mason’s appointment.

The person responsible for this announcement on behalf of ConvaTec Group Plc is Evelyn Douglas, Executive Vice President, Chief of Strategy and Business Development, General Counsel and Company Secretary.

About ConvaTec Group Plc

ConvaTec is a FTSE 250 global medical products and technologies company focused on solutions for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion care. We have more than 10,000 colleagues and operate in almost 100 countries. Our vision is pioneering trusted medical solutions to improve the lives we touch. Our products provide a range of clinical and economic benefits including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. Group revenues in 2020 were over $1.894 billion. To learn more about ConvaTec, please visit


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