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NCL
NCL
New Clicks Holdings - Retirement of Chief Executive Officer
New Clicks Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/000645/06)
JSE share code: NCL
ISIN: ZAE000014585
("New Clicks" or "the group")
NEW CLICKS HOLDINGS - RETIREMENT OF CHIEF EXECUTIVE OFFICER
New Clicks chief executive officer, Trevor Honneysett, has announced his
intention to retire as an executive director from the board with effect from 23
January 2006 following a decision to take early retirement from the group.
Mr Honneysett (57) has been with the group for 35 years and was appointed chief
executive in 1988.
He will be succeeded as chief executive by David Kneale, who was recently
appointed as deputy chief executive officer of New Clicks.
New Clicks chairman, David Nurek, said Mr Honneysett had made a very substantial
contribution to the group over the years and under his leadership the business
had grown from a single retail chain of less than 100 stores into a multi-brand
retailer with over 700 stores and annual turnover of close to R9 billion.
"Trevor has dedicated his entire career to the group and we wish him well in his
retirement. Fortunately he has agreed to stay on with the group for a few months
to ensure a structured handover of responsibilities to David Kneale."
"The board firmly believes that David, together with the other members of the
executive team, Keith Warburton and Michael Harvey, have the ability, skill and
energy to lead the turnaround in the group"s performance."
Mr Kneale (51), who has been a frequent visitor to South Africa, was previously
chief commercial officer of listed health and beauty retailer, Boots Group plc,
in the United Kingdom and served on the Boots executive committee. During his
career at Boots he held senior positions in the retail area of the business and
was appointed managing director of international retail development in 1997.
After a three-year spell as managing director of Waterstone"s Booksellers he
returned to Boots in 2002 as director of trading and was appointed chief
commercial officer in January 2003.
In terms of his service contract, Mr Honneysett is subject to a 12 month notice
period. The board, on the recommendation of the remuneration committee, has
agreed that he will receive salary in lieu of serving out his full notice. In
addition, he will receive a gratuity in accordance with company policy based on
his 35 years of service.
Cape Town
23 January 2006
For further information contact
Tier 1 Investor Relations
Tel: +27 (21) 702-3102
Sponsor
Investec Bank Limited
Date: 23/01/2006 11:30:03 AM Produced by the JSE SENS Department
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