Tissue Regenix Group Regulatory News (TRX)

19 Sep 2006 07:01

Torex Retail PLC19 September 2006 Torex Retail plc: Board Changes Announces appointment of new Chief Executive Officer Torex Retail plc, the leading supplier of IT solutions to retailers worldwide,today announces the appointment of Neil Mitchell as new Chief Executive Officerwith immediate effect. In addition, it also announces that Marcus Leek has been promoted to the mainplc board as Group Finance Director with immediate effect. Chris Moore, Chairman and Chief Executive will be stepping down from the role ofChief Executive but will move to Non-Executive Chairman with an operational rolefocused on the continued development of, and liaison with, global retailcustomers. An executive search has been instituted to identify a suitable Non-ExecutiveChairman for the Group. The role is being undertaken by Chris for an interimperiod until the successful outcome of the executive search and a properhand-over can be achieved. At that time, Chris will remain with the businessperforming an advisory customer-focused role. Neil Mitchell, aged 42, has accepted the role of Chief Executive Officer. Neilhas considerable experience working in business and strategic planning for majorUK and international companies. He was most recently Executive Chairman of aspecialist international corporate advisory group dealing in strategydeployment, international trade and specific post M&A business transformation.Having been an integral part of project teams, Neil has executed corporatetransactions in selected sectors across Europe, USA, South America and Russianmarkets. After an earlier career at BAe Systems and in management consultancy with IBMGlobal Services, from 1996 - 2000 Neil worked as special adviser to variousentertainment & media technology companies in Hollywood, energy companies in theUSA and with two UK listed companies, United Utilities Plc and Severn Trent Plc,where he worked on corporate transformation plans, strategy and businessplanning, innovative new venture creation and international businessdevelopment. A key achievement during this period was as strategic advisor toSevern Trent's Group Chief Executive where he was the architect and developer ofthe USA strategy and operational plan for Severn Trent Services Inc. to growrevenues from US$200m to US$1bn achieved through restructuring, customer serviceimprovements and major operating efficiency gains. Commenting on his appointment, Neil Mitchell said: "I am absolutely delighted tobe joining Torex Retail at such an exciting time in its corporate development:my experience of strategic business management is highly relevant to the groupas it emerges from a high level of M&A into a platform poised for significantorganic growth." "Torex Retail has a global market position of scale in retail IT solutions, anestablished blue chip customer base, and the opportunity to exploit the growthprofile of the sector. Our challenge will be to ensure that we achieve sustainedgrowth through excellent customer service delivery, for the benefit of allstakeholders." - Ends - Enquiries: Citigate Dewe Rogerson:Ginny Pulbrook, Director Tel: 020 7282 2945Seb Hoyle, Associate Director Tel: 020 7282 2882 Save as disclosed below, there is nothing further to disclose in relation toNeil Mitchell or Marcus Leek's appointment under schedule two, paragraph (g) ofthe AIM Rules. Neil Mitchell: Past directorships: Mackie Wood Mitchell Limited MWM International Limited Cornish Spring Water Co Limited Magic Dimensional Images Limited Marcus Leek: Past directorships: Bells Stores Limited 4u Business Limited Notes to Editors: About Torex Retail Plc Torex Retail is a leading independent provider of innovative retail technologysolutions to many of the world's principal retailers. Since the company'sflotation in spring 2004 Torex Retail has achieved rapid growth across all ofits markets and has rigorously pursued its goal of becoming the provider ofchoice. As a result, the company now has a presence in all of the major marketsaround the world and has built a strong platform for future growth in line withits strategy. Torex's Retail's product and solution set spans high street andout-of-town retail as well as hospitality and the petroleum and conveniencesector. With over 6,000 customer relationships, including McDonalds, Tesco,Woolworth, Selfridges, Shell and Argos, the company has earned a leadingreputation amongst retailers. Torex Retail has more than 2,800 staff based in 17countries. www.torexretail.com This information is provided by RNS The company news service from the London Stock Exchange