Directorate Change

RNS Number : 6715X

Guinness Peat Group PLC

09 December 2010

 



GUINNESS PEAT GROUP PLC

ANNOUNCEMENT

Guinness Peat Group plc ("GPG" or "the Company") announces that, as previously foreshadowed, Sir Ron Brierley will be retiring as Chairman of GPG as at close of business today.  The Board has appointed Mr Mark Johnson as the new Chairman.

Sir Ron will remain on the Board as a Non-Executive Director.

Sir Ron said: "I am delighted that Mark has accepted the Board's invitation to become the next Chairman of GPG.  He has extensive experience and is highly regarded within the international business community".

Mr Johnson said: "I wish to thank Sir Ron for his immense contribution to GPG during his 20 years as Chairman".

He went on to say: "As announced on 22 September 2010, an independent sub-committee of the Board has been formed to evaluate all strategic options to maximise value for shareholders.  The independent sub-committee continues to evaluate GPG's strategic options. 

GPG has also now established fully operational audit and risk, remuneration, and investment committees consisting of Non-Executive Directors. 

We look forward to updating shareholders on the progress of our review of strategic options when the Company releases its Preliminary Results in February".          

_______________________________________________________

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

9 December 2010

 

END

 

 

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