17 November 2011
Laura Ashley Holdings plc (the "Company")
Announces Changes in Executive Directors
Laura Ashley Holdings plc today announces that Ms Lillian Tan, Chief Executive Officer, will retire on 4 January 2012 when her contract expires. She has served 7 years with the Company and intends to pursue her other interests. She will be succeeded by Mr. Ng Kwan Cheong on 5 January 2012.
Formerly the Chief Executive Officer of the Company from 1999 to 2003, Mr Ng was re-appointed to the Board as a Non-Executive Director on 26 March 2008. He was also a Non-Executive Director of Corus Hotels Limited from 1997 to 2003. Prior to that, he was the Managing Director of Metrojaya Berhad, the retailing arm of the MUI Group. Mr Ng is currently the President of Laura Ashley, Inc. and Regent Corporation, Inc. He will bring a wealth of retail and corporate experience to the Company.
Tan Sri Dr KP Khoo, Chairman, said: "We are very thankful to Lillian for all she has achieved for Laura Ashley over the past 7 years. In her time as CEO, Laura Ashley has delivered healthy growth and the brand is in a strong position for the future. We wish her and her family well. Mr Ng has a wealth of experience and I am looking forward to working with him to continue growing the business."
The Company also announces the appointment of Mr Seán Anglim as Joint Chief Operating Officer alongside Mr Nick Kaloyirou. Mr Kien-Mun Ho replaces Mr Anglim as Chief Financial Officer in addition to Mr Ho's existing role as Company Secretary. These appointments take effect as of 17 November 2011.
Mr Ho, an ACCA member and a MBA holder, joined the Company in 2005 as the Head of Group Audit and Control. In 2009, he took on the role of Group Financial Controller and Company Secretary. Prior to joining the Company, he had also worked in various roles in public practice since 1993.
Enquiries:
Anita Scott / James Olley Brunswick 020 7404 5959
Kien-Mun Ho Laura Ashley 020 7880 5100
