Parity Regulatory News (PTY)

30 Jun 2005 06:01

Embargoed for 07:01, 30 June 2005 Parity Group plc Board changes Parity Group plc ("Parity" or "the Group"), the international IT servicesgroup, announces that Alison Leyshon, Finance Director, has tendered herresignation with effect from on 31 July 2005.The Board has accepted her resignation with regret and expresses its thanks forher hard work and commitment to Parity throughout her tenure.Her responsibilities will be taken on by Ed Watkinson, a highly experiencedfinance and transformation practitioner, who has been appointed to the newlycreated non-Board position of Head of Finance with effect from 18 July 2005. MrWatkinson has been appointed under an interim contract which is anticipated torun for the balance of this year as the restructuring of Parity continues.Mr Watkinson has worked in the IT sector since 1990. He is on PwC's Panel ofIndependent Turnaround Directors and is a member of the Society of TurnaroundProfessionals. Ed's many successes in the turnaround arena include projects forlisted companies such as MDIS Group, Softbank Corporation, AIT Group andMinorplanet Systems.As previously announced, John Maxwell, Non-executive Director, is standing downwith effect from today's AGM. The appointment of a replacement for John is apriority for the Board.Commenting on the changes, John Hughes, Executive Chairman of Parity, said"We very much appreciate Alison's contribution and commitment to the Group andwish her well in her future endeavours. Likewise, we thank John for his supportand commitment, most especially during the recent period of executivemanagement change. As Parity undertakes a substantial transformation with anincreasingly UK-focused strategy, we believe that Ed Watkinson's skills will beinvaluable to us in navigating the next few months of significant change and wewelcome him to the Group."EnquiriesParity Group plc Tel: 020 7776 0800 John Hughes, Executive Chairman Financial Dynamics Tel: 020 7831 3113 Giles Sanderson Harriet Keen Cass Helstrip ENDPARITY GROUP PLC