Worthington Names Non Executive Chairman, Chief Executive Director

6th Jul 2010 07:48

LONDON (Dow Jones)--Worthington Group PLC (WRN.LN) said Tuesday it appointed Anthony Cooke as non executive chairman and Peter Townsend as chief executive director of the company. MAIN FACTS: -Joe Dwek, currently chairman of the company, to step down from the board on Aug. 31 to allow for a period of transition for the incoming directors; Michael Edelson, currently non executive director, to resign from the board with immediate effect. -David Shalom to remain on the board as finance director. -Cooke has worked as a financial professional in the City of London for over 20 years, in both corporate and investment banking. -Townsend holds 14.1% stake in Worthington. Most recently, following the failure of Chariot U.K. to establish a successful national lottery, Townsend was appointed by shareholders to secure the survival of the company and to negotiate the terms of a major new investment which he achieved successfully. -Worthington will continue to seek suitable acquisition opportunities. -Shares on Monday closed at 17.5 pence, valuing the company at GBP2.1 million. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] (END) Dow Jones Newswires July 06, 2010 02:48 ET (06:48 GMT)