- 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
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