Network Technology - Re Directorate
April 30 1999 - 9:51AM
UK Regulatory
RNS No 5303x
NETWORK TECHNOLOGY PLC
30 April 1999
Board Changes
Network Technology PLC announces the resignation of Graham
Woodhead as non-executive Chairman with effect from 1st May
1999. Mr Klaus Bollmann, currently Group Chief Executive,
will become Executive Chairman and Ralph Ehlers, currently
Group Marketing Director will become Group Chief Executive.
Nicholas Soames, a non-executive director, has also resigned
from the Board with effect from 1st May 1999.
Klaus Bollmann said: "These resignations form an integral part
of our on-going cost control programme during the difficult
trading conditions that we have been experiencing. As an
additional measure, the Board, in its entirety, has agreed to
reduce their remuneration for the current year.
I would like to thank Graham for his valuable contribution to
the Group over the last four years and wish him well in his
other business ventures. I would also like to thank Nicholas
for his support and advice since joining the Group in 1997."
For further information:
Lulu Bridges
Tavistock Communications
Tel: 0171 600 2288
END
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