phil quits

ASX Release 12 November 2008
CP1 Limited (ASX: CPK)
Board changes
Resignation of Managing Director, Phil Sullivan
The Board of CP1 Limited (CP1) today announces that Executive Director
Phil Sullivan, after 6 years with CP1, has decided to resign effective 12
November 2008.
The CP1 Board thanks Mr Sullivan for the expertise, dedication and
commitment which he has provided to the company over the years. The
Board wishes him well in his future endeavours.
Appointment of Chief Executive Officer, Theo Axarlis
The CP1 Board is pleased to announce the appointment of Theo Axarlis as
Chief Executive Officer with effect from today. Mr Axarlis has been
performing the role of Chief Operations Officer of CP1 since June 2008.
Mr Sullivan resigned from the role as Chief Executive Officer of CP1 in
October 2007 as part of measures to initiate the separation of CP1 from City
Pacific Limited.
Mr Axarlis has significant experience in the property sector. Prior to joining
City Pacific, Mr Axarlis was Manager (Commercial and Legal) with
Melbourne property developer, Baron Corporation, for eight years. In this
role, Mr Axarlis was instrumental in the successful delivery of major projects
in the commercial, residential, retail and industrial sectors, including the
Melbourne landmark development of Southern Cross Towers.
A former solicitor with leading Melbourne law firm Macpherson and Kelley,
Mr Axarlis has a strong background in construction, commercial, banking
and finance and property law.
Appointment of Chief Financial Officer, Caroline Lamshed
The CP1 Board is pleased to announce the appointment of Caroline
Lamshed as Chief Financial Officer with effect from today. Ms Lamshed has
been performing the role of Financial Controller of CP1 since July 2008.
Ms Lamshed was formerly an Associate Director of Equity & Advisory
Limited, a corporate advisory firm, where she provided commercial advice in
relation to mergers and acquisitions, divestments, valuations and corporate
restructures to an array of industries in both the public and private sectors.
A Chartered Accountant and former employee of Ernst & Young in the Audit
and Advisory Business Services division, Miss Lamshed also has a strong
background in financial reporting and compliance.
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Company Secretary
The CP1 Board has also accepted the resignation of CP1 Company Secretary, Lee
Danahay. Ms Danahay has resigned to concentrate on her responsibilities as Group
Executive - Investor Relations for City Pacific Limited.
The Board is pleased to announce the appointment of Caroline Lamshed to the
position of Company Secretary for CP1. Ms Lamshed will perform the role of
Company Secretary in conjunction with her appointment as Chief Financial Officer.
For media enquiries contact: For shareholder enquiries contact:
Angus Urquhart Theo Axarlis
Hintons CP1 Limited
03 9600 1979 03 9629 1777
0402 575 684