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- Release Date: 21/03/13 12:04
- Summary: OFFICE: TWR: TOWER Group Managing Director gives notice of resignation
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TWR
21/03/2013 10:04
OFFICE
REL: 1004 HRS Tower Limited
OFFICE: TWR: TOWER Group Managing Director gives notice of resignation
21 March 2013
Market Information
NZX Limited
Level 2, NZX Centre
11 Cable Street
Wellington
NEW ZEALAND
Company Announcements Office
Australian Stock Exchange Limited
Exchange Centre
Level 6, 20 Bridge Street
Sydney NSW 2000
AUSTRALIA
MEDIA STATEMENT
For immediate release
TOWER Group Managing Director gives notice of resignation
(Auckland - NZ) TOWER Limited today announced the Group Managing Director Rob
Flannagan has given formal notice to the Board under his employment contract.
Mr Flannagan said "It was important to me that I oversaw the completion of
the strategic review implemented by the TOWER Board and this has been done.
TOWER now has a refreshed Board with a clear direction of where it wishes
TOWER to be in the future. It is time to step aside to allow a new leader to
guide the company in its preferred direction. I look forward to working with
the Board for a smooth transition."
Interim TOWER Chairman Steve Smith said:
"Rob Flannagan has led TOWER for the past seven years. He has guided this
company though challenging times such as the establishment of the New Zealand
TOWER Group on the sale of the Australian operations, the global financial
melt-down and the Christchurch earthquakes. He has strengthened and built
shareholder value every step of the way during his tenure. We are
disappointed to lose Mr Flannagan but we thank him for his immense
contribution to TOWER and wish him every future success."
Under the terms of Mr Flannagan's contract a 12 month notice period is
required.
Ends
Steve Smith
Interim Chairman
TOWER Limited
Tel: + 64 21 791342
ARBN 088 481 234 Incorporated in New Zealand
End CA:00234392 For:TWR Type:OFFICE Time:2013-03-21 10:04:36
