19th Apr 2006 07:01
MFI Furniture Group PLC19 April 2006 19th April, 2006 MFI Furniture Group Plc - Board retirements and changes In the Notice of Annual General Meeting posted to shareholders today, theChairman, Ian Peacock, has informed shareholders that he is seekingreappointment as a director at that meeting and that he has decided that heshould step down during the course of the coming year, having recently completedsix years as a director, this being considered under the Combined Code to be anoptimum period for a non-executive. It is expected that his successor will be anew independent non-executive director appointed from outside the Company. The Company also announces that Mr Paul Cheng who was appointed to the Board inAugust last year will not be seeking reappointment at the Annual General Meetingon 19 May 2006 and will accordingly retire on that date. His experience as aleading Asian business leader has been of considerable assistance to the Companyin recent months. However, his increasing commitments in Hong Kong will resultin his not being able devote the attention to the Company in the future that hewould wish and he has with regret decided that he should step down. As previously announced, Bob Wilson retired as a director after 29 years'service with the Company with effect from 5 April 2006, having been largelyresponsible for directing the manufacturing investment programme. The board isgrateful to him for his contribution. Following the above and other changes to the Board in recent months, thecomposition of the Board will now include the Chairman, the Chief Executive andthe Chief Financial Officer, together with four independent, non-executivedirectors, conforming to best practice. Enquiries Fiona Laffan/Anna Jones Brunswick Group Limited 020 2404 5959 Gerard Hughes, Company Secretary: 020 8200 8000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Howden Joinery