Directorate Change

14 Feb 2008 07:01

Humberts Group PLC14 February 2008 Humberts Group plc ('Humberts' or the 'Group') Appointment of Interim CEO Humberts (AIM: HUM), the multi-disciplinary national group of full serviceestate agents, chartered surveyors and valuers, today announces the appointmentwith immediate effect of Michael Charles Nower as interim chief executive.Michael Nower also joins the Board as a non-executive director. Michael Nower (age 58) has 20 years' experience as a FTSE 250 finance director,most recently with Countrywide plc, the UK's largest property services group.He brings to this role a great depth of experience in the property market and anunderstanding of the operations of large and diverse businesses. Commenting on the appointment, John McLean, executive chairman of Humberts,said: "I am delighted to welcome Mike to the Board and to the role of interimchief executive. He has a complete understanding of property services which,together with his financial experience, will be a great asset in developing afuture strategy for our business. His presence on the Board will ensure that wecontinue to benefit from his expertise once a new chief executive has beenrecruited." Michael Nower comments: "These are challenging times in the property market, butI welcome this opportunity to help drive the strategy for this trulymulti-disciplinary business. I look forward both to the period in the interimrole of chief executive and to a continued involvement serving on the Board." As compensation for Michael's services as interim chief executive officer it isexpected that he will receive options over the ordinary shares in the Group, theterms of which are still being determined, but will be dependant on theperformance of the Group. The following information is required to be disclosed in respect of MichaelNower under the AIM rules: Michael Nower has no current directorships or partnerships. Michael Nower's pastdirectorships in the last five years are as follows: Countrywide plcCountrywide Assured plcCountrywide Assured Life Holdings LimitedCountrywide Assured Services LimitedCountrywide Assured Care LimitedLondon Residential Investments LimitedBairstow Eves West London LimitedHarvey Donaldson & Gibson LimitedCountrywide Estate Agents FS LimitedCAG Private Finance LimitedProvecta Financial Management LimitedSeung Hay Five LimitedChoy Lee Five LimitedCountrywide Retirement Services LimitedAsgard Estates LimitedBureau Properties LimitedStratton Creber LimitedAlder King Countrywide Limited Notes: CAG Private Finance Limited and Provecta Financial Management Limited were putinto liquidation whilst Michael Nower was a director. There is no further information which would require disclosure under ScheduleTwo paragraph (g) of the AIM Rules. -Ends- For further information, please contact: Humberts Group plcJohn McLean, Executive Chairman 07768 031 454Nigel Cartwright, Chief Financial Officer 0207 431 8888 Panmure Gordon (UK) LimitedGrant Harrison / Mark Lander 0207 459 3600 Notes to Editors: Humberts Group plc is listed on London's AIM market. It is a leading firm ofestate agents, chartered surveyors and valuers. Established over 150 years ago,the company has a network of offices in the UK which benefit from nationalexpertise combined with strong regional and local knowledge. Humberts is a multi-disciplinary practice operating in a broad range of sectors:residential, new homes and land, rural, land management, commercial andprofessional services. Particular strengths have been developed in thecompany's land and news homes and rural sectors, at a time when land values arereaching record levels. The rural operation has twenty-four offices nationwideand has recently been appointed to run a major investment initiative sourcingand managing land. This information is provided by RNS The company news service from the London Stock Exchange