Parity Regulatory News (PTY)

5 May 2005 06:00

5 May 2005 Parity Group plc New Executive Chairman Joins Further to the announcement on 19 April 2005 of the appointment of Mr JohnHughes as Executive Chairman of Parity Group plc ("Parity" or "the Group"), MrHughes joined Parity on 2 May 2005.Mr Hughes, 53, has over 30 years international experience in the IT industryand, until recently, was Executive VP and Chief Operating Officer of ThalesGroup. Prior to this, he held senior executive positions at Lucent Technologiesand Hewlett Packard and has extensive experience of managing both services andproduct companies in high growth as well as re-focus/turnaround situations.In its recent results announcement, Parity stated that 2005 would be a year ofrestructuring with the Board expecting the Group to move into 2006 in muchbetter shape. Mr Hughes will be responsible for the leadership of the Group,with a specific focus on implementing its restructuring programme and strategyfor recovery.With the appointment of John Hughes, Parity's founder, Philip Swinstead, stepsback to the role of Deputy Chairman on a part-time basis for this year and willmove to a non-executive role next year.Commenting on his appointment, John Hughes, Executive Chairman of Parity, said:"The transformation of Parity presents an exciting challenge. I was fullyinvolved in the discussion and agreement of the strategy for the Group'srecovery and am looking forward to implementing the changes required to achievethat, leveraging the valuable skills of Parity's people, the commercialpotential of its refocused offerings and the strength of its customerrelationships."Director DeclarationThe following information falls to be disclosed in accordance with therequirements of paragraph 16.4 of the Listing Rules of the UK ListingAuthority.DirectorshipsCurrentChington Ltd (Isle of Man)Intec Telecom Systems plcPreviousAvaya UK LtdThales UK plcCitylink Telecommunications LtdCitylink Telecommunications Holding LtdThales e-Security LtdThere are no details to be disclosed in respect of paragraph 6.F.2 (b) to (g)of the UKLA Listing Rules. -End- Enquiries: Parity Group plc 020 7776 0800 John Hughes, Executive Chairman Financial Dynamics 020 7831 3113 Giles Sanderson Harriet Keen ENDPARITY GROUP PLC