Directorate Change
July 02 2003 - 11:59AM
UK Regulatory
RNS Number:0862N
Vanco PLC
02 July 2003
Vanco plc ("Vanco" or the "Company")
Vanco is pleased to announce that Ted Raffetto has been appointed CEO of the
Vanco US operation with effect from 10 July 2003. Mr Raffetto has been non-
Executive Chairman of Vanco plc since its successful listing on the main UK
Stock Exchange in November 2001. Mr Raffetto replaces Andy Zynga who is stepping
down from his roles both as an Executive director of Vanco plc and CEO of the
Vanco US operation. Mr Zynga who moved to the USA from Germany has decided to
pursue other opportunities for personal reasons. He will continue for the next
few months to provide a suitable handover period. Mr Raffetto has extensive
experience in the business of Network solutions to Enterprise customers in the
United States including building Verizon's Network Integration Business and Data
Solutions Group as a Sales Executive and as President and CEO. The Data
Solutions Group had revenues of over $500 million and over 3,000 employees.
The USA is currently forecast to represent about 3% of the group's revenue in
the year ending 31 January 2004. The initial indications are encouraging for the
sales opportunities for Vanco in the USA over the next few years.
The rest of the Directors welcome the further strengthening of the Board with
the full time commitment of Mr Raffetto.
As result of Mr Raffetto's new position, he has relinquished the role of non-
Executive Chairman although he will instead become an Executive director of
Vanco plc. Prof Dr Thomas Wolf will assume the role of non- Executive Chairman.
Prof Dr Wolf has been a non- Executive director of Vanco plc since November
2001.
Vanco is in the process of appointing a further non- Executive director. A
further announcement on this will be made in due course.
This information is provided by RNS
The company news service from the London Stock Exchange
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