JNY.L Regulatory News (JNY)

26 May 2006 10:30

Watermark Group PLC26 May 2006 26 May 2006 Watermark Group plc (the "Group") Executive changes associated with integration of Group Companies The following executive changes, both at Board level and at senior managementlevel consolidate the executive management of the Group into a more effectivesingle function. These changes will optimise Group integration and create aplatform to maximise sales and profit across the Group. Executive Board John Caulcutt moves up to Deputy Chairman, and will continue to provide theGroup's strategic focus and development, both through acquisition and organicgrowth, whilst working on key client relationships to maximise new businessopportunities. Freed up from the day to day management responsibilities, theGroup can take better advantage of John's wealth of experience and talent tooptimise the growth opportunities and therefore shareholder value. Maurice Ostro moves up to Chief Executive Officer, and will be responsible forthe day to day management of the Group, particularly in respect of achieving thetimely integration of the Products division, recently relocated to Heston, andthe newly acquired catering business, ICL . Maurice will work with John and therest of the Executive team, on acquisitions and will be responsible for theimplementation of the Group strategy as well as the integration of the acquiredbusinesses. Nicholas Scott, recently appointed to the Board becomes Group CommercialDirector, ensuring that an integrated view is taken on all group commercialissues. Nick will now bring his five years of experience gained within theServices division to the Group as a whole. Crispin Quail, as Group Finance Director, continues with his overallresponsibility for the Group's finances. George Brooksbank, part-time executive Director, will be retiring from the Boardat the AGM on 29 June 2006 and we wish him well for the future. New Senior Management Appointment Shaun Wylie, recently appointed as Group Sales Director, reporting to theExecutive Board, will now manage the sales function for all Group Products andServices. Shaun's previous sales experience within the airline industry addsconsiderable value to the continued development of the Group. For further information please contact: John Caulcutt/Crispin Quail Jeremy CareyWatermark Group plc Tavistock CommunicationsTel: 020 8606 1300 Tel: 020 7920 3150e-mail: info@watermark.co.uk e-mail: jcarey@tavistock.co.uk This information is provided by RNS The company news service from the London Stock Exchange