Last checked at 27 Jun 2019 07:00
Release date: 27 June 2019
Embargoed until: Immediate release
CLS Holdings plc
("CLS", the "Company" and the "Group")
Directorate Change
Appointment of independent Non-Executive Chairman
CLS announces that Lennart Sten is to become independent Non-Executive Chairman with effect from 14 August 2019, after the publication of the Group's half-year results, following receipt of notice from Henry Klotz of his intention to retire as Executive Chairman and Director of the Company on that date. Mr Sten was appointed to the Board on 1 August 2014 and will continue to serve as a member of the Company's Remuneration and Nomination Committees.
Sten Mortstedt, Founding Shareholder and Executive Director, said:
"Lennart has been an independent Non-Executive Director for five years and has extensive property and international public company experience. I am pleased that he has agreed to become independent Non-Executive Chairman, a role for which he is well suited. This change to our Board structure also reinforces our commitment to good corporate governance.
"Henry has dedicated much of his career to the Group, having joined in 1999, and has been a key part of our success. On behalf of the Board, I would like to thank Henry for his loyal service, leadership and wise counsel. We all wish him well in his retirement."
Lennart Sten, Chairman elect, said:
"I look forward to working closely with the Board and executive team as we implement our strategy for long-term growth. I welcome this opportunity to continue to make a significant contribution to a very successful and well managed business."
There are no further details required by LR 9.6.13.
-ends-
For further information, please contact:
CLS Holdings plc
(LEI: 213800A357TKB2TD9U78)
www.clsholdings.com
Fredrik Widlund, Chief Executive Officer
John Whiteley, Chief Financial Officer
+44 (0)20 7582 7766
Liberum Capital Limited
Richard Crawley
Jamie Richards
+44 (0)20 3100 2222
Whitman Howard
Hugh Rich
+44 (0)20 7659 1261
Elm Square Advisers Limited
Jonathan Gray
+44 (0)20 7823 3695
Smithfield Consultants (Financial PR)Alex Simmons
Rob Yates
+44 (0)20 3047 2476