Salmat is hiring Rebecca Lowde to be its new CEO, with her short term incentives to almost double over that of previous incumbent Craig Dower.
Lowde says, “I am excited to formalise my role as CEO. This is an important and challenging time for Salmat as we complete the strategic review and work to achieve the best possible outcomes for all stakeholders. I look forward to continuing to lead the Salmat team and updating shareholders on our progress as we are able to do so.”
Lowde has served as acting CEO since previous boss Craig Dower departed in May. He was initially appointed in 2014, and left by mutual agreement. Lowde is the first female head of Salmat, which is now a $450m business. It exited print production five years ago when it sold its BPO division to Fuji Xerox DMS for $375m, but still places a huge amount of print.
The company is instigating new contract terms for Lowde, raising the short-term incentive at risk component of the remuneration package from $128,800 to $251,600. Short term incentives, also often referred to as annual incentives, are intended to compensate executives for achieving the firm’s short-term goals.
[Related: Salmat profits as revenue slips]
Salmat is also increasing the notice period for both parties from three to six months, with the company being obliged to give three months’ notice or a payment in lieu, and a payment equal to three months’ salary.
Peter Mattick, chairman and founder of Salmat says, “Lowde joined Salmat as chief financial officer in August 2014 and has been closely involved with the business transformation and other strategic programs since that time. She has made a seamless transition into the acting CEO role and the Board is very pleased that she has accepted the offer to continue as CEO in the future.
“She has already made an enormous contribution to the business and we are confident that she will deliver great results for Salmat’s shareholders, clients and staff in this role. Her extensive leadership experience in Australia, Asia and Europe will serve Salmat well as we shape the future direction of the business.
“Lowde and the senior executive team are currently working through the strategic review of the business that commenced in February this year. We will announce the outcomes of that review once it has concluded.”
Salmat is an Australian marketing services business, running since 1979 and reaching up to 17 million people online and offline.
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