|
101/01
5
September 2001
NEW DEPUTY MASTER
OF THE ROYAL MINT
Gerald
Sheehan is to be the new Deputy Master (Chief Executive) of the Royal
Mint, Gordon Brown, the Chancellor of the Exchequer, announced today.
Mr Sheehan, who will take up appointment at the beginning of December,
will succeed Roger Holmes.
Welcoming
the appointment of Mr Sheehan, the Chancellor said:
“I
am very pleased to have secured the services of Gerald Sheehan as
the new Deputy Master of the Royal Mint. Gerald’s experience makes
him an ideal candidate to lead the Mint to be a world class manufacturing
business. His demonstrated abilities in strategic decision-making
and operational management are exactly the qualities needed to build
on the work the current Deputy Master Roger Holmes has done to modernise
the Mint and leave it able to hold its own in an increasingly competitive
market.
“The
Mint will need to continue to provide the best possible service at
the lowest possible cost to its customers, both domestic and overseas.
It will also need to develop its new business in non-coin gifts and
collectibles with sound commercial judgement to take full advantage
of the opportunities available. I wish Gerald Sheehan every success
in steering the Mint towards these aims.
“I
would like to thank Roger Holmes for his 9 years of dedicated and
effective service as Deputy Master. I wish him well in his future
career.”
NOTES TO EDITORS
- The Deputy
Master of the Royal Mint is a senior civil servant. The appointment
of Gerald Sheehan has therefore been overseen by a Civil Service
Commissioner and has been made in accordance with the Civil Service
Commissioners’ Recruitment Code.
- Gerald Sheehan,
51, has been a Director of ASW Holdings Plc since 1996, his most
recent position being Operations Director, Allied Steel and Wire,
a post he has held since 1999. ASW is a steel producer with a sales
turnover of approximately £270 million, supplying a range of steel
products throughout the UK and Europe. Following his early career
with British Steel Stainless, Gerald joined the ASW group in 1979,
initially working in various management roles with Tremorfa Steel
Works (TSW). A graduate from Harvard Business School’s Advanced
Management Programme in 1989, Gerald is also currently a Board Director
of the Steel Training Ltd and Metals Industry National Training
Organisation Council and was previously a director of Societe Monterelaise
Des Broyage (SMB).
- Gerald Sheehan
has been appointed for an initial term of two years, with a rolling
one year notice period applying thereafter. His basic salary will
be £125,000 per annum with a performance related bonus of up to
30% each year.
- The current
Deputy Master, Roger Holmes, has held the post since 1993.
- Based in Llantrisant,
Wales, the Royal Mint is a trading fund and Executive Agency employing
over 1000 people and having a turnover of around £100m. The Chancellor
of the Exchequer is the Master of the Mint. The Royal Mint Management
Board comprises the Deputy Master plus five executive and five non-executive
directors.
- The Royal Mint’s
business comprises production and sale of circulating coins and
blanks for the UK and overseas governments, and collector coins
and medals. Following the announcement on 9 July 1999, by the then
Economic Secretary Patricia Hewitt, of a programme of reforms at
the Royal Mint, including the granting of wider commercial freedoms
(Treasury press release 116/99), the Mint has recently started
marketing non-coin gifts and collectibles items.
- Mr Sheehan’s
appointment as Deputy Master of the Royal Mint follows the appointment
of two new non-executive directors, Lucy Woods and David Trapnell,
to the Royal Mint Management Board in February this year (Treasury
press release 24/01).
- Media enquiries
should be addressed to Simon Moyse in the Treasury press office
on 020 7270 4420 or for the Royal Mint to Helen Birtwhistle
on 02920 344888.
|
