DS Smith Plc
TonyThorne to retire asGroupChiefExecutive
MilesRobertsto be appointed as successor
DS Smith Plc, the international packaging manufacturer and office products wholesaler, announcesTony Thorne'sintentionto retireas Group Chief Executiveonce asuccessor is in place.
Tony Thorne joinedDS Smithin January 2001andbecameGroup Chief Executive inOctober 2001.He informed the Board some time agoof his preference notto continue in that role beyond his 60thbirthday in 2010.
The Board has carried out a thorough evaluation of a strong list of internal and external candidates.It is pleased to announce that Miles Roberts will be appointed Group Chief Executive and is expected to take up his position during the first quarter of 2010. An announcement will be made in due course to confirm his start date.
Miles Roberts, aged45,is currentlyChief Executive ofMcBride plcwhere he has led a programme to deliver significant growth and improved shareholder value. Hebringsconsiderable international experienceas well asan understandingof manufacturing and DS Smith's packaging markets.
Commenting,Peter Johnson, Chairmanof DS Smith Plc, said:
"Tony has made a huge contribution to DS Smithand we all wish him well.We are delighted to welcomeMilesasournextGroup Chief Executive.He has an enviablerecord of success as wellas very relevantexperienceforour business."
As required by the Listing Rules, it is confirmed that there are no details to be disclosed pursuant to LR 9.6.13 R (1) to (6). Mr Roberts does not hold any shares in the Company.
DS Smith Plc 01628 583 400
Peter Johnson, Chairman
Financial Dynamics020 7831 3113
This information is provided by RNS