Directorate Change

RNS Number : 8894V

CLS Holdings PLC

10 November 2010

 



Release date:              10 November 2010

Embargoed until:         07:00

CLS HOLDINGS PLC

BOARD CHANGES

CLS Holdings plc ("CLS") is pleased to announce that Richard Tice will become Chief Executive Officer with effect from 1 January 2011.

At the same time, Henry Klotz will assume the new role of Executive Vice Chairman and Thomas Lundqvist will step down as Non-Executive Vice Chairman but remain a Non-Executive Director of CLS.

Sten Mortstedt, Executive Chairman of CLS, commented:

"These changes reflect our commitment to succession planning and ensuring that CLS is well positioned for the future.  Richard has already proven that he will be a very capable Chief Executive Officer and has the right skills to manage the next phase of our development.

I would like to thank Henry for managing CLS so successfully through the most difficult property market in living memory and I am delighted that he will take up a new role with us. We will continue to benefit from his extensive international business experience and he will remain as Chairman of our associate company, Catena AB.

I would also like to thank Thomas for his Vice Chairmanship and his continuing contribution to the Board."

-ends-

For further information, please contact:

CLS Holdings plc                                                                    [phone]

www.clsholdings.com

Sten Mortstedt, Executive Chairman

Henry Klotz, Chief Executive Officer

Richard Tice, Deputy Chief Executive Officer

Kinmont Advisory                                                                    [phone]

Jonathan Gray

Smithfield                                                                                [phone]

Alex Simmons

 

END

 

 

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