Volex Group PLC
08 May 2006
8 May 2006
Volex Group Plc
Board Changes
The Board of Volex Group plc, today announces that Richard Arkle has been
appointed as non-executive Chairman of the Company and Heejae Chae, formerly
Chief Operations Officer, has been appointed Group Chief Executive. Martin May
resigns as Executive Chairman and steps down from the Board.
Richard Arkle, aged 56, joined the Board in April 2005 as a non-executive
Director. He is also currently Chairman of the Audit Committee and a member of
the Nominations and Remuneration Committees. Richard was previously a partner at
KPMG LLP from 1982 to 2004.
Heejae Chae, aged 37, joined the Board in June 2005. He has held senior
positions in the industry and prior to joining the Volex Group he was Worldwide
General Manager of the Radio Frequency Group of Amphenol.
Dimitri Goulandris, aged 39, has also been appointed a non-executive director of
the Board. Dimitri is a director of Cycladic Capital Management Limited, which
is a major shareholder of Volex. In accordance with paragraph 9.6.13(1) of the
Listing Rules, it is announced that Dimitri is a current director of P
ermasteelisa SpA, Forthnet SA and Azkoyen SA, being public companies in Italy,
Greece and Spain respectively.
Derek Walter, aged 58, has tendered his resignation as a Director but will
remain with the Group until a new Finance Director has been appointed and an
orderly handover period has been completed. This will meet the requirements of
the next stage of the Group's development.
Volex Group plc will be announcing its preliminary results for the year ended
2nd April 2006 on 14th June 2OO6. The results are expected be in line with the
current market consensus.
Richard Arkle, commented: 'The Board were very grateful to Martin for stepping
into the position of Executive Chairman last November and I would like to thank
both Martin and Derek for their contributions to the business and wish them well
for the future. Having performed well as Chief Operations Officer, the Board has
every confidence that Heejae will continue to lead the improvement of the
business as Group Chief Executive.'
Heejae Chae commented: 'I am delighted to accept the position of Group Chief
Executive of Volex. Since joining the business in 2005 as Chief Operations
Officer I have been impressed with the way the business has been turned around
and I look forward to taking Volex into its next stage of development.'
For further information please contact:
Volex Group plc Tel: 01925 830 101
Richard Arkle, Chairman
Heejae Chae, Chief Executive
Weber Shandwick Square Mile Tel: 020 7067 0700
Chris Lynch / Nick Dibden
This information is provided by RNS
The company news service from the London Stock Exchange
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