Zambeef Products plc ("Zambeef" or the "Company"), (ZAM), the fully integrated agri-business with operations in Zambia, Nigeria and Ghana, announces that Stanley Phiri has left his position as Director General of NAPSA (the largest Zambian based shareholder of Zambeef) and has therefore retired from his position as a Non-Executive Director of Zambeef with immediate effect.
The Company has also taken the initiative to create a new Management Committee formed of existing senior management which will assist the Chief Executive Officer in running the day-to-day operations of the Group. The Management Committee will be led by Francis Grogan, Chief Executive Officer and its members will comprise the Executive Directors, being Carl Irwin, Yusuf Koya and Sushmit Maitra, together with Michael Ledwith (Chief Operating Officer), Craig Harris (Chief Administration Officer), and Colin Huddy (General Manager of the Cropping Division).
The Management Committee has been tasked to consider strategic, operational, business and industry issues as they arise and make recommendations to the Board and to ensure that strategic goals and objectives shaped by the Board are translated into tactical delivery. Mechanisms for measuring key performance indicators are in place to monitor progress. The terms of reference of the Management Committee were approved by the Board of Directors on 5 June 2012 and a summary is available on the Company's website www.zambeefplc.com.
Chairman Dr. Jacob Mwanza said "we are extremely grateful to Stanley for his significant contribution and support to the Board in the time he has been with the Company and we wish him well for the future. I am also pleased to endorse the formation of this new management committee. We are expanding at a rapid pace and need to ensure we have a strong, flexible and responsive management structure in place to maximise the benefit from the growing demand for our products."
E N D S
For further information please contact:
Zambeef Products plc
Francis Grogan, Chief Executive Officer
Tel: +260 (0) 9 7799 9001
Carl Irwin, Director - Strategy and Business Development
Tel: +260 (0) 9 7777 1002
Strand Hanson Limited
Tel: +44 (0) 20 7409 3494
Panmure Gordon Ltd
Tel: +44 (0)20 7459 3600
Tel: +44 (0) 20 7466 5000
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