15 Aug 2008 15:43
15 August 2008
John Lewis of Hungerford plc
("the Company")
Board Changes
John Lewis of Hungerford plc announces today that a number of changes are being made to its Board. John Lewis will be standing down as Non Executive Chairman of the Company, but will remain on the Board as a Non Executive Director. Malcolm Hepworth, currently the Company's Non Executive Deputy Chairman, will be assuming the role of Non Executive Chairman. Richard Worthington will be standing down as Finance and Commercial Director with immediate effect and will no longer be a director of the Company. In order to ensure the continuity of the Company's finance function whilst a search is undertaken for a successor, an interim consultancy arrangement has been agreed to ensure the continued availability of Richard Worthington to the Company on a part-time basis, until a successful handover of responsibilities is achieved or the auditors have received all necessary information and explanations required in relation to the audit of the annual accounts for the year ended 31 August 2008.
John Lewis said:
"Richard has been with John Lewis of Hungerford for over fifteen years. In that time he has made a very significant contribution to the Company. It has been agreed between the Board and Richard that now is an appropriate time to seek to appoint a Finance Director who can commit more time to the needs of the business than Richard is able to offer, because of his other public company commitments, most notably as Executive Chairman of coffeeheaven international plc. The search for Richard's successor is underway, but in the meantime we are pleased that his services will continue to be available to us to ensure continuity.
The Board would like to express its thanks to Richard for all that he has contributed to the business, and for the support that he has given."
For further information please contact:
Jon Rosby, Managing Director
John Lewis of Hungerford plc
Tel: 01235 774300
Nicola Horton/David Abbott
Smith & Williamson Corporate Finance Limited
Nominated Adviser to the Company
Tel: 020 7131 4000