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Engel East Europe NV (KBE)

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Thursday 14 August, 2008

Engel East Europe NV

Board Change

RNS Number : 3158B
Engel East Europe N.V.
14 August 2008

14 August 2008

Engel East Europe N.V.

('Engel' or the 'Company')

Board Change

The Chairman of Engel East Europe N.V., Mr. Sam Salman, announces that on the 13 August Mr. Eitan Padan resigned his position as Chief Executive Officer ('CEO') and tendered his resignation as a director of Engel with immediate effect.

Mr. Samuel Hibel, Chief Financial Officer, will assume the position of Chief Executive Officer for a period of at least 4 months while the board completes a process of selecting the new CEO.

During this same period, Mr. Salman will assume greater responsibilities with regard to the day to day activities of the Company.

The Company thanks Mr. Padan for his valuable contributions to the Company and wishes him the best in his future endeavours.

For further information contact:

Engel East Europe N.V.

Sam Salman

Tel: +1 (646) 2142000

Samuel Hibel

Tel: + 972 (9) 9707004

Libertas Capital Corporate Finance Ltd

Tel: +44 (0) 20 7569 9650

Jakob Kinde

Sandy Jamieson


Tel: +44 (0) 20 7367 8888

Simon Bloomfield

Steve Liebmann

This information is provided by RNS
The company news service from the London Stock Exchange