Naked Wine Regulatory News (WINE)

3 Mar 2008 07:00

Majestic Wine PLC03 March 2008 For Immediate Release 3 March 2008 Majestic Wine PLC Board Changes The Board of Majestic Wine PLC announces that Tim How has stated his intentionto retire within the next year. Tim, aged 57, has been Chief Executive for thelast 19 years. Steve Lewis, who has been Chief Operating Officer for the past two years, willbe appointed Chief Executive on Tim's retirement. Steve, aged 44, joinedMajestic in 1985 as a graduate trainee manager. He became Retail Director in1991 and was appointed to the Board in 1998. Simon Burke, Chairman, said:"Tim How has led Majestic from a small loss-making chain to the most successfulindependent wine retailer in Britain. Along the way he has created tremendousvalue for shareholders, acquired a loyal and dedicated customer following, andbuilt a highly professional retail and management team. He has been a trulygreat Chief Executive and we all owe him a huge debt of gratitude. We wish him along, happy and prosperous retirement.Meanwhile the Board is delighted that Steve Lewis, Tim's long-standing deputyand someone who has dedicated many years to building the Majestic business, hasagreed to become Chief Executive upon Tim's retirement. Steve will be appointedafter an appropriate handover period. We look forward to working with him tocontinue the Majestic success story." New images can be found at www.fovea.tv free of charge. Enquiries to: Tim How or Steve Lewis Tel: 01923 298200Majestic Wine PLC Tim Thompson or Nicola Cronk Tel: 020 7466 5000Buchanan Communications END This information is provided by RNS The company news service from the London Stock Exchange