15 Oct 2009 16:42
| PRESS ANNOUNCEMENT | |
| FOR IMMEDIATE RELEASE | |
| 15 October 2009 | |
| Somero Enterprises, Inc ® ("Somero" or "the Company") | |
| Directorate Change | |
| Somero today announces that Stuart Doughty has informed the Board of his decision to step down as non-executive Chairman to focus on his other commitments, in particular his recent appointment as Executive Chairman at Silverdell PLC, and that Lawrence Horsch has been appointed with immediate effect as Chairman. Lawrence comes to Somero with extensive experience having served on 26 company boards, invested in 30 venture projects and conducted four corporate turnarounds. He co-founded SciMed Life Systems prior to its merger with Boston Scientific Corporation, after which he served on the Boston Scientific Corporation board. Lawrence (74 years old) currently serves on the boards of directors of Leuthold Funds Inc. and Pioneer Sales Group, and in the past five years has also served on the board of Medical CV Inc. and Gillette Children's Specialty Healthcare. In accordance with Schedule 2 g) of the AIM Rules, Lawrence served as a director of Munsingwear Inc. until late 1990. In mid-1991, the company filed for bankruptcy. The company subsequently emerged from the bankruptcy proceedings and continued in business. Jack Cooney, CEO of Somero, commented: "Stuart guided Somero through our successful AIM IPO, and we will miss his tireless work ethic and valuable insights. On behalf of the Company I would like to thank Stuart for his significant contribution over a long period of time and wish him every success in the future. "We welcome Lawrence to the role of Chairman, where his knowledge and experience will be instrumental to the strategic development of Somero." | |
| Enquiries | |
| Hawkpoint Partners Limited | |
| Christopher Kemball / Chris Robinson | +44 (0)20 7665 4500 |
| Collins Stewart | +44 (0)20 7523 8000 |
| Piers Coombs | |
Somero (SOM)