As Trustees of the Scheme, we need to hold personal data about you, so that we can look after your benefits under the Scheme. You can find out more about the personal data that we hold, how we use it and who we share it with in the new Privacy Notice which you can find here.
Richard Waterbury (Chairman)
Richard joined Courtaulds in 1989 as a Commercial Director in Coatings. When Akzo Nobel acquired Courtaulds in 1998, he became Courtaulds Coatings Purchasing Director and remained in the Akzo Nobel purchasing function until retiring in 2012.
In February 2008, Richard joined the Trustee Board and the Investment Committee as a Member-Nominated Trustee Director. One year later, he became Chairman of the Board and of the Investment Committee.
Geoff joined Courtaulds in 1968 and worked initially as a chemical engineer in Research in Coventry. After periods in Advanced Materials and Fibres, he joined Courtaulds Coatings in 1996 as Operations Director. Following takeover by Akzo Nobel, he became part of the Marine and Protective Coatings BU as General Manager, Europe, Middle East and Africa from 1999 until he retired in 2005.
Geoff was a Company-Appointed Trustee Director between 2000 and 2005. Since 2013, he serves the Board as Member-Nominated Director, representing the pensioner membership and has only recently been re-elected for a 5-year term.
Jasbir joined Courtaulds Coatings in 1998 and is still employed by Akzo Nobel. Starting in the Cromadex business based in Smethwick, Jasbir relocated to Felling after seven years to become Assistant BU Controller and SBU Controller for Functional Coatings for Powder Coatings. He then moved to Como, Italy for his next role as SBU Controller for EMEIA for four years.
Jasbir joined the Trustee Board in September 2013 as a Company-Nominated Director and is a qualified Chartered Accountant.
Jon joined Courtaulds in Coventry as a Student Apprentice of the Fibres Division in January 1964. After studying at UMIST and taking his MBA at London Business School, Jon rejoined Courtaulds working for the Finance Director, moved to the Fabric business and joined Paint in 1979 as Managing Director of Marine Sales. In 1996, he moved to Houston as CEO of the Marine and PC business in the Americas before retiring in 2001.
Jon joined the Trustee Board as a Member-Nominated Trustee Director in 2013. He is also a member of the Investment Committee.
Jon joined the Courtaulds' Group in 1987 as a Personnel Officer at the large Spondon site near Derby. He remained in the Human Resources function based at several of The Company's UK sites until leaving the Akzo Nobel Group in 2015. During his employment, Jon's role brought him in regular contact with the pension administration department, and he was part of the team responsible for the transition to the Towers Watson administration service in Leeds.
Jon became an Employer-Nominated Director in May 2005 and is a member of the Scheme's Administration Committee.
Julie joined Courtaulds in 1976 and qualified as a solicitor in the Company’s Legal Department in 1986. She has had various roles and responsibilities throughout her career with Courtaulds and then Akzo Nobel, culminating with her role as Director Legal for the Performance Coatings Business Area of Akzo Nobel and member of the Legal Leadership Team. She took early retirement in March 2013 after nearly 37 years’ service to (in her words) ‘retake control of her life’.
In June 2008, Julie joined the Trustee Board as a Company-Nominated Director and continued as such after her retirement. She is also a member of the Administration Committee and has recently become a member of the Valuation Committee.
Paul graduated in Chemistry & Chemical Engineering from Newcastle University and has previously worked for Exxon Mobil & Croda International in a variety of roles spanning RD&I and Technical Marketing. Since joining Akzo Nobel in 1999, he has held various positions such as European Business Development Manager, European Sales Manager and was appointed as General Manager of the Industrial Coatings Ltd business in 2012.
Paul is an active member of the Scheme and became a Member-Nominated Trustee Director in 2008.
Russell joined Courtaulds as a sponsored student in 1984, and came on-board full-time after University. He had many years in R&D before switching to marketing in 2000 and he continues to work in the Powder Coatings business of Akzo Nobel.
Russell became a Member-Nominated Trustee Director in 2003. In 2009 and 2012, he served on the Valuation Committee, which carries out the triennial in-depth analysis of the assets and liabilities of the Scheme.
Law Debenture, Antony Macwhinnie
Law Debenture is the longest established and largest provider of Independent Pension Trustees in the United Kingdom. It has provided independent trustee services to the Scheme since 1996.
Antony Macwhinnie has been the Law Debenture representative on the Trustee Board since 2006. He qualified as a chartered accountant and has over 20 years of experience in investment banking and corporate finance.
Antony is a member of the Investment Committee and the Valuation Committee, plus he chairs the Administration Committee.
Pension scams. Don't get stung.
The Pensions Regulator is warning of pension scammers and urges members like you to be wary about any pension offers you may receive. Tempting promises of one-off investments, pension loans or upfront cash in exchange for your pension are mostly bogus and have many downsides, including high tax charges and penalties.
You might have come across a pension scam labelled as:
- free pension review
- one-off investment opportunity
- legal loophole
- pension loans
- early pension release
- pension selling
- cashing in your pension
- pension liberation
Please be wary if you’re contacted about any of these options.
Find out more about pension scams, including what to look out for and helpful information to better protect yourself, on the
Pensions Regulator website
The 2014 and 2015 Budgets announced new, flexible options for members of defined contribution (DC) pension schemes. Since 6 April 2015, DC scheme members can take advantage of one or a combination of the following:
- Buy an annuity – a regular income for life
- Withdraw one or multiple cash lump sums over the short term
- Drawdown income in a number of stages over a longer-term period while keeping the remainder invested
As a defined benefit (DB) scheme member, you could only take advantage of these new flexibilities by transferring out your DB Scheme benefits and into a DC arrangement. This is a very important decision affecting your future and should not be taken lightly. You need to consider your choices very carefully and, by law, will have to consult a financial adviser regulated by the Financial Conduct Authority before taking any action (if your total pension value is greater than ￡30,000).
If you have Additional Voluntary Contributions (AVCs) in the Scheme, then you can use the value of those to access the new DC flexibilities separately from your DB Scheme benefits. More detail will be provided when you request a retirement quotation from the administration team.
To explore the option of transferring your benefits out of the Scheme to access the new flexibilities, please contact the administration team