Executive Management Restructure At Italtile Limit
Johannesburg, 08 June 2001: Mr Peter Swatton has announced that he will
relinquish his position as Chief Executive Officer of Italtile Limited with
effect from 01 July 2001. Swatton has for the past two-and-a-half years
occupied the role of Finance Director and Company Secretary, in addition to
his role as CEO. With the ongoing expansion of the company both locally and
internationally, and the attendant financial demands arising from that
growth, Swatton has elected to return to his former position as Finance
Director and concentrate his attention on the financial side of the
business. His responsibilities will include Finance, Administration,
Properties, IT and Human Resources.
Mr Gianni Ravazzotti, founder of the company and Executive Chairman, will
fill the position of CEO for an interim period until such time as a
replacement for Swatton is appointed. Ravazzotti says: "Peter has made an
excellent contribution to the group's performance since his appointment as
CEO more than two years ago, and the results for the year ended June 2001
will be a reflection of his commitment. We respect his decision to return
to his former position as Finance Director and look forward to his continued
contribution."
ends
Issued by Signatures Investor Relations on behalf of Italtile Limited
For information: Del-Maree English Tel: 011 783 4999
Cell: 083 395 8608
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