TEG.L Regulatory News (TEG)

11 Apr 2005 07:00

TEG Environmental Plc11 April 2005 For release 7.00am 11 April 2005 TEG ENVIRONMENTAL PLC DIRECTORATE CHANGES TEG Environmental Plc ("TEG" or "the Company"), announces that Michael Fishwickhas been appointed Chief Executive, with effect from 25 April 2005. Mr Fishwickwill succeed Dick Bilborough, who will remain on the Board as a non-executivedirector and will continue to provide the Company the benefit of hisconsiderable knowledge and experience of the industry. Mr Fishwick became ChiefExecutive Elect and Director of the Company on 20 January 2005. Commenting, TEG Chairman, Nigel Moore, said: "Dick's enormous energy andcommitment to TEG over the last 10 years has been absolutely vital in ensuringthat the Company is now poised to take advantage of all the hard work anddedication that has been put in. I am sure that Michael will now successfullylead the Company to the next stage of its development and the directors areconfident that this is the right time to affect the changeover in this keyposition. Michael (39) joined TEG from the successful recycling business, Waste SolutionsGroup Ltd, where he was Managing Director since 2000. In 2001, he led amanagement buyout of the Company and became a 25% shareholder. He successfullysold the Company last year to Credential Environmental Ltd, realising asubstantial gain for shareholders. Prior to that, from 1997 until 2000, he waswith White Rose Environment Ltd, a subsidiary of Kelda (Yorkshire Water) wherehe was Operations Director. For further information please contact: TEG Environmental Plc Dick Bilborough 01772 422220 / 07774 445086Michael Fishwick 01772 422220 / 07884 116969 Binns & Co PR Ltd Peter Binns 020 7786 9600 / 07768 392 582Hannah Sloane 020 7786 9600 / 07855 084 713 Editor's Notes: TEG designs and produces a specialised composting system that provides a proven,efficient and cost-effective disposal alternative to landfill or incineration asa means of treating organic waste. Potential customers include contractors,local authorities, waste management companies, food processors, farmers andlandowners. The Company's expanding market is driven by increasingly stringentEU and UK legislation regulating the treatment and disposal of organic waste. Further details can be found at: www.tegenvironmental.co.uk This information is provided by RNS The company news service from the London Stock Exchange