14 Aug 2008 08:43
14 August 2008
Engel East Europe N.V.
('Engel' or the 'Company')
Board Change
The Chairman of Engel East Europe N.V., Mr. Sam Salman, announces that on the 13 August Mr. Eitan Padan resigned his position as Chief Executive Officer ('CEO') and tendered his resignation as a director of Engel with immediate effect.
Mr. Samuel Hibel, Chief Financial Officer, will assume the position of Chief Executive Officer for a period of at least 4 months while the board completes a process of selecting the new CEO.
During this same period, Mr. Salman will assume greater responsibilities with regard to the day to day activities of the Company.
The Company thanks Mr. Padan for his valuable contributions to the Company and wishes him the best in his future endeavours.
For further information contact:
| Engel East Europe N.V. | |
| Sam Salman | Tel: +1 (646) 2142000 |
| Samuel Hibel | Tel: + 972 (9) 9707004 |
| Libertas Capital Corporate Finance Ltd | Tel: +44 (0) 20 7569 9650 |
| Jakob Kinde Sandy Jamieson | |
| Bankside | Tel: +44 (0) 20 7367 8888 |
| Simon Bloomfield Steve Liebmann |