Management Actions

31 Jan 2007 17:21

Torex Retail PLC31 January 2007 Torex Retail PLC ("the Company") Management Actions Torex Retail PLC, the leading global retail systems provider, today announcesthe following management actions: Mr. Iain Lynam has been appointed to lead the restructuring with principalresponsibility for all day-to-day executive matters. In addition, the Board hasappointed a committee comprising Mr. Lynam, Mr. Marcus Leek (Finance Director),Mr. Geoffrey Forster (Senior Non-executive Director) and Mr. David Hallett(Non-Executive Director), under the Chairmanship of Mr. Forster, with fullauthority to carry on the management of the Company. Following the appointment of the committee, Mr. Christopher Moore has agreed tostep aside as Chairman of the Company but will carry out such duties as arerequired of him. Mr. Moore remains on the Board. In addition, Mr. Neil Mitchell has been asked to step down from executiveduties. Mr. Mitchell also remains on the Board. The Board has also appointed Deloitte and Linklaters to advise the Company. -Ends- This information is provided by RNS The company news service from the London Stock Exchange