- Release Date: 30/06/15 12:47
- Summary: OFFICE: TWR: TOWER Chief Executive Officer extends contract
- Price Sensitive: No
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TWR 30/06/2015 12:47 OFFICE PRICE SENSITIVE REL: 1247 HRS Tower Limited OFFICE: TWR: TOWER Chief Executive Officer extends contract 30 June 2015 Market Information NZX Limited Level 2, NZX Centre 11 Cable Street Wellington New Zealand Company Announcements Office Australian Securities Exchange Limited Exchange Centre Level 6, 20 Bridge Street Sydney NSW 2000 Australia TOWER Chief Executive Officer extends contract TOWER Limited (NZX/ASX: TWR) announced today that Chief Executive Officer David Hancock's two-year contract has been extended by up to three months. Mr Hancock's contract with the general insurer was due to conclude on 30 June 2015, and would now conclude by 30 September 2015. TOWER Chairman Michael Stiassny said today that the Board had extended Mr Hancock's contract to enable him to oversee the delivery of a number of strategic initiatives underway in the business. "David has demonstrated outstanding leadership in transforming TOWER into a customer-focused general insurer over the past two years. We are pleased that he has agreed to extend his tenure with TOWER to see through some important initiatives that will deliver long-term value to our shareholders," Mr Stiassny said. The Board has conducted an international search for a new Chief Executive Officer, and expects to be in a position to announce an appointment within the next eight weeks. Mr Stiassny said Mr Hancock, who also is an Executive Director of the TOWER Board, will work closely with the new Chief Executive Officer designate to ensure a seamless transition for the business over the coming months. ENDS David Hancock Chief Executive Officer TOWER Limited ARBN 088 481 234 Incorporated in New Zealand For further information, please contact: Tracey Palmer Head of Corporate Communications Mobile: +64 21 837 860 Email: [email protected] End CA:00266394 For:TWR Type:OFFICE Time:2015-06-30 12:47:58
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