PHTM.L Regulatory News (PHTM)

26 Nov 2009 07:00

Thursday 26 November 2009

PHOTO-ME INTERNATIONAL PLC

Appointments of CEO Designate and NED

Photo-Me (PHTM.L), the instant service equipment group, announces the appointments of Richard Seurat as Chief Executive Officer Designate, with effect from today, and Emmanuel Olympitis as a non-executive Director and Chairman of the Audit Committee, with effect from 1 December 2009. 

Until the completion of his induction into the Photo-Me Group on 30 April 2010, Richard Seurat will be Joint CEO, together with Serge Crasnianski, who has more than 45 years' experience in what is now the Photo-Me Group.

Richard  Seurat

Richard Thomas Seurat, 54, a French national, was, from January 2003 until 24 November 2009, Chairman and Chief Executive of A NOVO SA, the Paris-based, Euronext-listed European leader in after sales services for digital technology products, with revenues of Eur365m. Prior to joining A NOVO, Richard Seurat was, for almost 20 years, a successful management and technology consultant, from 1994 to 2003 at Cap Gemini, latterly managing nine regional practices and 1,600 consultants. He graduated as a chemical engineer at the Institut National Polytechnique de Toulouse, holds an MBA from INSEAD, and continues his academic involvement by lecturing and writing on business, in particular innovation, organisation, strategy and technology.  

Welcoming Richard Seurat to Photo-Me, Hugo Swire, Chairman, said "After what has been an exhaustive search, we are delighted to have found a candidate so well-qualified to take the Company forward. Richard Seurat could not have a better introduction to the Group than to work alongside Serge Crasnianski, who continues to make such an important contribution to the Group."

Upon appointment, Richard Seurat has an interest in 118,000 shares in Photo-Me, representing 0.03% of the shares in issue.

Save as stated above, there are no details to be disclosed under Listing Rule 9.6.13R with regard to Richard Seurat.  

Emmanuel Olympitis

Emmanuel John Olympitis, 60, has extensive experience as a company Director. He is currently Executive Chairman of PetroCapital Resources plc (quoted on the PLUS market) and a non-executive Director of Canoel International Energy Limited (quoted on the Toronto Venture Exchange) and China Cablecom Holdings Limited (quoted on NASDAQ). He was also a non-executive Director of Matica plc (traded on AIM) from April 2007 to June 2009, Secure Fortress plc (quoted on the PLUS market) from June 2007 to November 2008, Bulgarian Land Development Plc (traded on AIM) from March 2006 to March 2007, and Norman 95 Plc (traded on AIM) from July 2004 to August 2005. Mr Olympitis' early career was in merchant banking and he has held senior executive positions in major financial services groups.

Emmanuel Olympitis was a Director of Sirius Retail Television Limited from January to May 2003, when that company was in the ownership of Pacific Media Plc, of which Mr Olympitis was Executive Chairman. In July 2003, following the sale to its management, Sirius Retail Television Limited proposed a company voluntary arrangement with its creditors and this, having been approved, was completed and discharged in November 2006. Save as stated above, there are no details to be disclosed under Listing Rule 9.6.13R with regard to Emmanuel Olympitis.

Photographs:

Photographs of both Richard Seurat and Emmanuel Olympitis are available from Rose Oddy of Bankside Consultants on 020-7367 8853/rose.oddy@bankside.com. 

Notes for Editors:

Following these appointments, the Board of Photo-Me will comprise: Hugo Swire (non-executive Chairman), Serge Crasnianski (Deputy Chairman and Joint CEO), Richard Seurat (Joint CEO), Françoise Coutaz-Replan (GFD), John Lewis (Senior independent non-executive Director), Dan David (non-executive Director) and Emmanuel Olympitis (independent non-executive Director).