JNY.L Regulatory News (JNY)

21 Dec 2007 09:00

Watermark Group PLC21 December 2007 For release: 21 December 2007 WATERMARK GROUP PLC ("Watermark") The Board of Watermark today announces the appointment of Carl Fry as ChiefFinancial Officer of the Company commencing initially on a six month contractwith effect from 2 January 2008. Carl will replace Peter Fitzwilliam, whoseresignation from the Board was announced on 27 September 2007, and who willleave the Company on 31 December 2007. Carl has significant experience of serving on the Boards of both publicly listedand private companies. Until earlier this year he was Group Finance Director ofprivate equity-owned Telecity Group plc, which Carl joined following its mergerwith Redbus Interhouse plc in January 2006. He became Group Finance Director ofRedbus in 2000 where he devised and executed a robust cost control strategy.From 1995 to 2000 he was Group Finance Director of Creston plc where he wasresponsible for restructuring the business. After qualifying as a chartered accountant with Arthur Andersen, Carl spentseveral years in roles where he gained significant corporate finance experience.He is a Fellow of the Institute of Chartered Accountants and graduate ofSouthampton University where he earned a first class honours degree inMathematics. Commenting on the appointment, Stephen Yapp Chairman of Watermark said: "Carlhas extensive and highly relevant expertise and I am pleased he has agreed tojoin the Board. His broad financial and operational experience will, I am sure,prove valuable as we continue work to turnaround the performance of our Companyand meet the Board's objectives." On the departure of Peter Fitzwilliam, he added: "On behalf of the Board and ourshareholders, I would like to thank Peter for his significant efforts during histime at Watermark and wish him well for the future." Listed below are the names of the publicly quoted companies of which Carl Fryhas been a director at any time in the past five years: Redbus Interhouse plc (Official List & AIM) 2000 - 2006: Group Finance DirectorCarl Fry was a director of de Morgan Group plc which went into receivership in1994. There is no further information concerning Carl Fry which requires disclosureunder Rule LR 9.6.13 R of the UK Listing Authority Listing Rules. For further information, contact: Stephen Yapp Jeremy Carey or Matt Ridsdale Watermark Group plc Tavistock Communications Limited 0208 606 2071 Tel: 0207 920 3150 This information is provided by RNS The company news service from the London Stock Exchange