MGL
24/04/2015 09:17
OFFICE
PRICE SENSITIVE
REL: 0917 HRS Mercer Group Limited
OFFICE: MGL: Mercer Press Release - CEO and CFO step down
Press Release: 24 April 2015 - CEO and CFO Step Down
Rodger Shepherd and Tobin Blathwayt have today advised the board of Mercer
Group Ltd of their intention to step down as a director and CEO, and CFO
respectively, effective August 31st. This will round out four years'
service. Until then, Rodger and Tobin will be working with the Board to
search for, and transition to, a new CEO and CFO. John Dennehy, Board chair,
expressed the Board's appreciation of their contribution.
"Rodger and his team are to be congratulated on the significant turnaround in
Mercer's fortunes since Rodger's appointment in 2011. The Board is highly
appreciative of his efforts: in particular, in overseeing the development of
the new opportunities in Titan and in our Medical Division, as well as
ensuring that our long established Stainless business remains market leading
and has improved profitability."
Rodger Shepherd commented: "We have executed a four year turnaround plan
laying the foundation for Mercer to continue to grow profitably. The
business has been transformed from one focused and reliant on cyclical
industrial products with limited Intellectual Property to one that has
developed opportunities in world leading technologies, including the Titan
slicers and food processing ranges of equipment, and the development of the
S-Clave sterilisation system. Mercer now has a solid foundation comprising
the core manufacturing business, and the pathway for these exciting growth
technologies is now established. This is underpinned by a good management
team who are poised to move Mercer on to the next stage of maturity. I will
be working with the Board to ensure there is a smooth transition to a new
CEO."
Rodger Shepherd retains direct and beneficial interests totalling 35,070,634
shares, and Tobin Blathwayt holds direct and beneficial interests totalling
3,713,487 shares.
For further information, please contact:
Rodger Shepherd
09 836 9778
End CA:00263530 For:MGL Type:OFFICE Time:2015-04-24 09:17:23
