| Mon 10 Nov 2003, 9:38 | | JAN DU PLESSIS APPOINTED CHAIRMAN OF BRITISH AMERI |
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JAN DU PLESSIS APPOINTED CHAIRMAN OF BRITISH AMERICAN TOBACCO
Richemont Securities AG
(Incorporated in Switzerland)
JSE Code : RCH
ISIN: CH0013157380
("Richemont" or "the Group")
PRESS RELEASE - 10 NOVEMBER 2003
JAN DU PLESSIS APPOINTED CHAIRMAN OF BRITISH AMERICAN TOBACCO
Richemont announces that Jan du Plessis, Group Finance Director, has been
appointed as Non-Executive Chairman of British American Tobacco p.l.c. by the
board of that company. As a result, Mr du Plessis will step down as Group
Finance Director of Richemont on 30 April 2004 in order to take up his new
responsibilities in July 2004. He will also leave the boards of Compagnie
Financiere Richemont SA and Richemont SA, Luxembourg on 30 April.
Commenting on Mr du Plessis" decision, Johann Rupert, Executive Chairman of
Richemont, said:
"Jan"s appointment as Chairman of BAT represents a major opportunity for him and
I am genuinely delighted that he has been chosen for the position. We have
worked closely together for over 20 years and during that period I have always
admired his integrity, diligence, enthusiasm for our business and commitment to
his colleagues and the Group as a whole. He played a key role in the formation
of Richemont and has made a huge contribution to the Group over the years.
When Jan told me that he wanted to put his name forward for the position, I was
initially very reluctant to accept the changes that such an appointment would
mean for Richemont. However, I know that Jan will make an excellent Chairman of
BAT, bringing to the role his comprehensive knowledge of the tobacco industry,
which he has acquired while working with Richemont, as Finance Director of
Rothmans International and as a non-executive director of BAT. Taking on the
Chairmanship of BAT will be a major challenge but I am sure that it is one that
Jan will handle brilliantly.
All my colleagues at Richemont and I will miss Jan very much indeed, both as a
business colleague and as a friend. We all wish him every success for the
future."
Jan du Plessis commented as follows:
"Having spent my entire working life with the Group, my decision to leave
Richemont was clearly a difficult one. It has been a privilege to be part of the
team that initially established Richemont and to participate in the tremendous
change in the Group that we have seen over the last 15 years. On a personal
note, I will always be grateful to Johann for his tremendous loyalty and
support, without which much of what I have contributed to Richemont would not
have been possible.
Needless to say though, I feel honoured to have been asked to take on the
Chairmanship of British American Tobacco and I very much look forward to the
challenge and the opportunities that lie ahead."
The Board of Compagnie Financiere Richemont SA will hold its regular meeting on
Wednesday, 12 November to consider the Group"s interim results, which will be
announced the following morning. At that meeting, the Board will confirm the
appointment of a successor to Mr du Plessis and an announcement in this respect
will also be made on Thursday, 13 November.
Richemont is a Swiss luxury goods group. The Group owns a portfolio of leading
international brands including Cartier, Van Cleef & Arpels, Dunhill, Montblanc
and Lancel as well as the prestigious watch manufacturers Jaeger-LeCoultre,
Piaget, Baume & Mercier, IWC, Vacheron Constantin, A. Lange & Sohne, and
Officine Panerai.
In addition to its luxury goods business, Richemont holds a 19.2 per cent
interest in the ordinary share capital of British American Tobacco.
Further inquiries: Alan Grieve
Company Secretary
Compagnie Financiere Richemont SA
Compagnie Financiere Richemont SA
8 Boulevard James-Fazy CH-1201 Geneva Switzerland
Telephone +41 (0)22 715 3500 Telefax +41 (0)22 715 3550 www.richemont.com
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 10/11/2003 09:06:17 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
