TIDMCAU 22nd October 2009 Centaur Media plc ("Centaur" or "the Group") Directorate change The Chairman of Centaur Media plc, Graham Sherren, has today announced his intention to step down as Chairman at the Company's Annual General Meeting on 10th December 2009. He intends to remain on the Board as a non-executive director for a further 12 months and will put himself forward for election in that capacity at the AGM. The Board has decided to appoint senior non-executive director, Patrick Taylor, as Chairman and his election will be proposed at the AGM. Commenting on his decision, Graham Sherren said: "When Centaur listed on the Stock Exchange in 2004, a key objective for me, as Chairman and Chief Executive, was to plan an orderly management succession. I was pleased to hand over to Geoff Wilmot as Chief Executive Officer in 2006 and I believe that he and the management team at Centaur have done an excellent job since that time. In December, I reach the age of 72 and in the past few weeks, I have been discussing with the Board my decision that it is now the right time for me also to step down as Chairman. The Company is emerging from the worst recession in living memory even stronger than it was before, thanks to the efforts of the management and staff. We have an exceptional portfolio of market-leading products, a robust balance sheet and an exciting pipeline of new products. As our markets recover, we are well positioned to deliver strong growth for our shareholders. I am delighted that Patrick Taylor has agreed to take on the role of Chairman. I wish him every success and look forward to continuing to work with him and the Board as a non-executive director, until I finally stand down from the Board at the 2010 Annual General Meeting" Patrick Taylor, Chairman elect, said: "I am honoured to be taking on this role at such an exciting stage in the Company's history. Under Graham's stewardship, Centaur has developed an exceptional culture of entrepreneurship and built an outstanding portfolio of market-leading brands. I look forward to working with the Company to build on that record, to ensure that it exploits its strengths to the full and to maximise opportunities for growth in the future." For further information please contact: Kreab Gavin Anderson 44 (0) 207 074 1800 Robert Speed Anthony Hughes Note to editors: Patrick Taylor was formerly Chief Executive Officer of GWR Group plc, the UK's largest commercial radio group, ranked by licences and audiences. Before joining GWR, Patrick was Group Finance Director of Capital Radio plc, having previously been a partner with the accountancy practice, Coopers & Lybrand, specializing in corporate finance. Patrick is also a non-executive director of Future plc. =--END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
(END) Dow Jones Newswires
October 22, 2009 02:04 ET (06:04 GMT)