FOR IMMEDIATE RELEASE
26February 2003
MANAGEMENT CHANGES
betinternet.com plc, the global on-line gaming group, today announces that
Vincent Caldwell is stepping down from the position of managing director and
resigning from the Board of the Company, with immediate effect, to pursue other
interests.
The Board has appointed Paul Doona, currently finance director, as managing
director, with immediate effect. In anticipation of a broader management role,
Mr Doona has already recruited additional strength into the finance function.
Furthermore, Mark Child, non-executive director, will undertake an additional
remit to develop a number of strategic initiatives, outlined in the interim
results, with regard to possible acquisition opportunities.
Commenting on the changes, Jim Mellon, Chairman said 'Vincent was the
entrepreneurial spirit behind the formation of betinternet and has worked
tirelessly to create opportunities for the business. I am pleased that we will
be able to call on his assistance, as required, during the next six months, and
we wish him well in the future.
'I am, however, very confident that we have established a strong management
team with the appropriate blend of skills necessary to take the company
forward.
'As I said in the interim report, The Company is now cash flow positive and all
the key ratios are promising. As a result I have every confidence that we will
go from strength to strength.'
ENDS
For further information:
betinternet.com plc Tel: 01624 629699
Paul Doona, Managing Director
Waughton Tel: 020 7796 9999
Robin Hepburn
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