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
