AVI Limited - Board and management changes
AVI Limited
(Registration number 1944/017201/06)
Share code: AVI
ISIN: ZAE000049433
(`AVI`)
BOARD AND MANAGEMENT CHANGES
Angus Band to be appointed non-executive Chairman
Simon Crutchley to be appointed Group Chief Executive
Tony Ardington will be retiring from his position as Chairman of AVI Ltd at the
Annual General Meeting in October 2005 because he will have reached the
mandatory retirement age of 65 for non-executive directors.
Angus Band has indicated to the Board that, having served as Group Managing
Director for nearly seven years, it is an appropriate time to resign from his
executive position with AVI. The Board, having reviewed alternative candidates
for non-executive Chairman, has determined that Angus Band will succeed Tony
Ardington and is pleased that AVI will continue to have the benefit of his input
and experience.
Simon Crutchley, currently Business Development Director, is to be appointed
Group Chief Executive with effect from 1 October 2005. This follows an extensive
selection process by the Appointments and Remuneration Committee of the Board.
Simon was formerly Managing Director of Consol Ltd from 1997 until 2002 where he
was responsible for the successful restructuring and turnaround of the business.
As Business Development Director of AVI since 2002, he has been intimately
involved in driving forward the strategy development and re-positioning of AVI
as a leading branded consumer products group as well as in delivering and
developing recent group acquisitions.
Chislehurston
Sandton
19 May 2005
Sponsor
Standard Bank
Enquiries:
AVI
Angus Band, Group Managing Director Tel: +27 (11) 779 2703
Sean Jagoe, Non-executive Director Tel: +27 (82) 551 5558
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