Brambles Limited has announced that its Chief Financial Officer (CFO), Zlatko Todorcevski, has informed the Board of his intention to retire from the Company and full-time corporate life. Mr Todorcevski will remain with Brambles until February 2017 through the selection of a successor and to assist in the smooth transition to a new CFO. The Board will shortly begin a global search process to review potential internal and external candidates for the role.
Mr Todorcevski said: “I have thoroughly enjoyed my time at Brambles and I am proud that, by the time I step down next year, I will have been associated with the company for 4½ years, during a period when we have consolidated our long-term strategy and implemented significant financial and operating efficiencies.
“As an international company with the bulk of its business outside Australia, the travel demands of my role and the consequent time away from my family have caused me over recent months to think about retiring not only from Brambles but also from full-time executive life in general.
“I believe that now is the right time to finalise this decision and allow the Board to focus on recruiting my successor. Brambles has excellent people and I would like to thank the Board, Tom and my colleagues both on the Executive Leadership Team and the finance team for their support during my time with the Company.”
Brambles Chief Executive Officer, Tom Gorman, said: “I am extremely sorry that Zlatko is leaving Brambles but I fully understand and respect his decision to retire from full-time corporate life. Zlatko makes an outstanding contribution to the Company and is a great executive partner. His leadership of the Recall demerger, a number of debt capital raisings and more recently, the group-wide One Better and One Finance initiatives, will leave us with a much stronger business.”
Brambles Chairman Stephen Johns said: “Zlatko is an excellent CFO who makes a significant contribution to the success of the Company. On behalf of the Board, I look forward to working with him over the next 12 months and wish him well for his future when he retires. The Board’s expectation is that Zlatko’s successor will be appointed during the latter part of the 2016 calendar year.”