Directorate Change

RNS Number : 3617E

Guinness Peat Group PLC

05 April 2011

 



GUINNESS PEAT GROUP PLC

ANNOUNCEMENT

Guinness Peat Group plc ("GPG") announces that Mr Rob Campbell has today been appointed as Chairman of GPG to replace Mr Mark Johnson AO who steps down as a director and as Chairman with immediate effect.  Mr Johnson had previously advised his intention to step down as Chairman at GPG's forthcoming Annual General Meeting and not to seek re-election.

Mr Campbell chaired the Independent Board Committee which recommended the plan to optimise value for all shareholders which was announced by GPG on 11 February 2011.  The Board of GPG has now decided that this plan can be achieved with its existing resources and is not proceeding with the search for an external senior executive.

The Board has also commenced a process to select an individual based in Australia to replace Mr Johnson as an independent non-executive director.

Mr Campbell said "I wish to thank Mark Johnson for his extremely valuable contribution to GPG during his time as Chairman".

Enquiry details are:
New Zealand media:	Geoff Senescall on:	[phone]
Australian media:	Andrew Stokes on:	[phone]
UK media:	Kevin Smith on:	[phone]

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: [phone]

5 April 2011

 

END

 

 

BOAEELFBFZFLBBD