16th Feb 2005 12:30
United Drug PLC16 February 2005 MARTIN RAFFERTY TO RETIRE AS CHAIRMAN OF UNITED DRUG PLC Martin Rafferty, who has been with United Drug since 1973, and Chairman for the last twenty years, will retire from the Board on September 30th, the end of the present financial year. Ronnie Kells, who has been a non-Executive Director of United Drug since 1999, has been appointed Deputy Chairman, and will succeed Martin Rafferty as Chairman. Mr. Kells is a Director of Readymix plc and the Odyssey Trust Company Ltd., and was previously Chief Executive of Ulster Bank. Paying tribute to Mr. Rafferty on behalf of the Board of United Drug, Liam FitzGerald, Chief Executive, said: "Martin's contribution to United Drug plc has been immense over his 20 years as Chairman. Under his Chairmanship, the Company has been transformed strategically and financially. In many ways Martin is synonymous with United Drug and he has played a pivotal role in steering the Group through strategic challenges, management succession, acquisitions, and an unparalleled record of earnings growth. "On behalf of the Board I want to thank Martin sincerely for his enormous contribution to United Drug's success and to wish him well in the future. "Through our incoming Chairman, Ronnie Kells, United Drug and our Board can look forward to continued solid stewardship in the years ahead". Ends: Wednesday, 16th February 2005 For reference: Liam FitzGerald - United Drug Plc Pauline McAlester - Murray ConsultantsTel: +353 1 459 8877 Tel: + 353 1 498 0300 Note to Editors: Martin Rafferty's other directorships include Insurance Corporation of Ireland and Church & General Insurance plc (subsidiaries of Allianz A.G.). Previous directorships include Chairman of the IDA (Industrial Development Authority), Readymix plc and Ulster Bank Markets, and Director of Aer Lingus, the Jefferson Smurfit Group and Ulster Bank. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
UDG.L