DNK.L Regulatory News (DNK)

18 Feb 2005 13:30

Danka Business Systems PLC18 February 2005 Embargoed until 1.30pm 18 February 2005 DANKA BUSINESS SYSTEMS PLC ("Danka" or the "Company") LANG LOWREY TO RETIRE FROM BOARD OF DIRECTORS Danka Business Systems PLC, a leading independent global provider of officeimaging systems and services, today announced that, effective March 1, 2005,Lang Lowrey will retire from the Company's Board of Directors. Lowrey was theCompany's Chief Executive Officer from March 2001 to March 2004 when he wassucceeded by Todd Mavis. He has been Chairman of the Board since January 2002. As the Company's Chief Executive Officer Lowrey was instrumental in implementingplans to improve sales margins, significantly reduce debt, and enhance theCompany's liquidity. In addition, Lowrey recruited the key members of thecurrent management team and significantly upgraded the Company's corporategovernance programmes, including the recruitment of several key new boardmembers. He also oversaw the completion of the Company's Oracle systemsimplementation in the U.S., and instituted numerous process and policyinitiatives to upgrade the Company's operations. "I would like to thank Lang for his leadership over the past several years andhis substantial contributions to Danka," said Todd Mavis, Chief Executive ofDanka. "Lang came to Danka during a very turbulent financial time for thebusiness, and successfully steered the Company through a series of transactionswhich greatly improved our long term debt structure. He was also instrumental indeveloping our Vision 21 strategy and growth initiatives which, as we recentlyannounced, we continue to implement today." "I am proud of the accomplishments of the management team during my tenure andwas pleased to work with Todd this past year in the transition to his new roleas Chief Executive Officer," said Lowrey. "I was recently ordained into theministry and, as I have long stated, I am very much looking forward to devotingmy time and attention to this vocation." "We wish Lang all the best in his future endeavors," said Andy McKenna, Chairmanof the Company's Executive Committee. "Lang's leadership has helped position theCompany to achieve success in this next phase of its development." The Board of Directors has appointed Mr. McKenna as its Chairman. Mr. McKenna isalso a director at AutoZone Inc. He formerly was president and director ofSciQuest.com, a business-to-business electronic marketplace for scientificproducts. He also served in several executive positions at The Home Depot,including senior vice president of Strategic Business Development and Import/Logistics; president of the Midwestern Division; and chief information officer.Prior to that, Mr. McKenna spent 16 years with Deloitte & Touche. He became aDanka director in February 2002. - ends - For further information please contact: Danka Business Systems PLCDonald Thurman, Danka Investor Relations 001 770 280 3990Paul Dumond, Company Secretary 020 7605 0150 Weber Shandwick Square MileMike Kirk/Helen Thomas 020 7067 0700/07768 636 795 About Danka Danka delivers value to clients worldwide by using its expert technical andprofessional services to implement effective document information solutions. Asone of the largest independent providers of enterprise imaging systems andservices, the company enables choice, convenience, and continuity. Danka'svision is to empower customers to benefit fully from the convergence of imageand document technologies in a connected environment. This approach willstrengthen the company's client relationships and expand its strategic value.For more information, visit Danka at www.danka.com. Certain statements contained in this press release, including statements relatedto Danka's future business and financial performance, are forward-looking. Suchstatements reflect the current views of Danka with respect to future events andare subject to certain risks, uncertainties, and assumptions that could causeactual results to differ materially from those reflected in the forward-lookingstatements. Readers are cautioned not to place undue reliance on these forwardlooking statements, which reflect management's analysis only as of the date theyare made. Danka is a registered trademark and Danka @ the Desktop and MyDanka.com aretrademarks of Danka Business Systems PLC. All other trademarks are the propertyof their respective owners. This information is provided by RNS The company news service from the London Stock Exchange