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PEET LIMITED Board/Management Information 2007
65600_rns_2007-05-21_c12191e2-bc09-4f2a-9873-7c25f4d8619e.pdf
Board/Management Information
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Porth Level 7, 200 St Georges Terrace Perth WA 6000 Telephone (08) 9420 1111 | Facsimile (08) 9481 4712 Email [email protected]
22 May 2007
CEO Retirement and Appointment of New CEO
The Directors of Peet Limited today announced that Managing Director and Chief Executive Officer Mr Warwick Hemsley would retire on 5 August 2007 on expiration of his current contract. He will remain on the Board of Directors after that date in a non-executive capacity.
Peet Chief Operating Officer and former Chief Financial Officer. Mr Brendan Gore, will succeed Mr Hemsley as Chief Executive Officer and Managing Director on 6 August 2007.
Peet Chairman, Mr Tony Lennon, said, "Warwick has made a highly significant and valuable contribution leading Peet's executive team over a long period. His experience and future contribution as a non-executive director will be of great benefit to the company going forward.
"As Managing Director, Warwick had established goals and direction for the company which had come to fruition. However, very importantly, he has set in place a solid management structure and excellent personnel to serve the company as it continues to implement its strategies for growth."
In announcing the appointment of Mr Gore to be the new CEO, Mr Lennon said the Board was delighted to have been able to select from the company's existing executives and that the appointment of Brendan represented a well-considered succession planning move.
"Peet Limited's growth as a diversified property group has been built on considered decision-making backed by careful research and sound experience. That approach will remain and continue to underpin our success," he said.
"Brendan has been a member of the senior executive team since joining the company and has played a lead role in driving the activities that have backed the continuing growth of its asset management. land syndication and funds management business. He brings strong corporate, financial, strategic and leadership skills to the role and is supported by an experienced and capable team of executives," said Mr Lennon.
Mr Lennon confirmed that Peet is embarking on the search for a new Chief Operating Officer and will advise the market on the appointment for that role in due course.
For further information please contact:
Tony Lennon, Chairman Peet Limited Tel: (08) 9420 1168 [email protected]
Marie Mills Mills Wilson Communication Consultants Tel: (08) 9228 1999 or 0418 918 202 [email protected]