GROUP FIVE LIMITED - GROUP FIVE STRENGTHENS EXECUTIVE COMMITTEE
Group Five Limited
(Registration number: 1969/000032/06)
(Incorporated in the Republic of South Africa)
JSE Share Code: GRF
ISIN Code: ZAE000027405
(`Group Five`)
GROUP FIVE STRENGTHENS EXECUTIVE COMMITTEE
Group Five today announced that its board has approved the restructuring of the
Group`s Executive Committee. The strengthened committee will focus on rolling
out the delivery of the Group`s growth strategy following the successful
completion of a restructuring programme over the last three years.
The new committee will work closely with the board and individual business units
to ensure the successful implementation of the next stage in the Group`s
development and a smooth transition when Deputy CEO Howard Turner and Executive
Director Harold Banton retire from the Group at the end of the year.
The new members joining the committee will be:
* Glenn Geldenhuis MD, DPI Plastics
* Paul le Sueur MD, Building
* Mike Upton MD, Projects
* John Wallace MD, Everite Building Products
The committee will now consist of the above members and Mike Lomas - CEO, Howard
Turner - Deputy CEO, Harold Banton - Executive Director, Paul O`Flaherty - CFO,
and Piet du Preez - HR Director.
The role of the executive committee will continue to be:
* reviewing and implementing Group strategies and policies
* aligning the Group structure with those strategies
* managing the business and affairs of the Group
* acting as a medium of communication and co-ordination between business
units and the board.
Mike Lomas says, `The inclusion of four younger business unit managing directors
with extensive successful track records in the industries within which the Group
operates, is part of the plan to continue to blend experience with fresh
insights.`
24 June 2004
Date: 24/06/2004 02:50:02 PM
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