| Wed 11 Feb 2009, 8:00 | | MPC - Mr Price Group - Change In Roles Of Top Management Team At Mr Price |
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MPC
MPC
MPC - Mr Price Group - Change In Roles Of Top Management Team At Mr Price
Mr Price Group Limited
Incorporated in the Republic of South Africa
Registration number 1933/004418/06
ISIN: ZAE000026951
JSE share code: MPC
("Mr Price" or "the company" or "the group")
CHANGE IN ROLES OF TOP MANAGEMENT TEAM AT MR PRICE
Durban, 11 February 2009- The Mr Price Group today announced that as part of the
succession plan for the future, Stuart Bird has been appointed Deputy CEO.
Stuart has been with the group for 15 years and has successfully managed the Mr
Price apparel chain as MD for the past seven years.
Joint Chairman Stewart Cohen said: "Steve Ellis, who has been an executive with
the group for 17 years, has been appointed Chief Information Officer and will be
responsible for the key support functions of systems, logistics, credit and
the Redgold merchandise planning initiative. Shane van Niekerk, with 25 years of
group experience, has been appointed Chief Operations Officer and will be
responsible for the training and motivation of our 15,000 associates, the
efficiency of our retail operations as well as all store design and
development."
Alastair McArthur, who was appointed executive Deputy chairman last year, will
also continue as CEO and Chairman of the group management board.
"A key element of our succession plan is for a gradual transition. Stuart will
focus initially on the trading of the group and in time, will take over
corporate functions. We have no set timetable and when Stuart becomes CEO,
Alastair will continue to be closely involved in the business in the same way
that Laurie and I have been since Alastair was appointed CEO 12 years ago," said
Cohen.
"We are in the process of establishing an excellent team for the future. Stuart,
Steve and Shane, together with our Chief Financial Officer, Mark Blair, whose
role remains unchanged, are key players in that team," said Joint Chairman
Laurie Chiappini. "Our business has enormous potential and we have every
confidence that this team, with its passion, experience and commitment, will
grow the company to become a world class retailer."
SPONSOR
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 11/02/2009 08:00:02 Produced by the JSE SENS Department.
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