Board Changes

 

TIDMDYS 
 
RNS Number : 2170B 
Dyson Group PLC 
22 October 2009 
 

+-----------------------------------+-----------------------------------------+ 
| For immediate release             |                         22 October 2009 | 
+-----------------------------------+-----------------------------------------+ 
 
 
 
 
 
 
 
 
Dyson Group PLC 
 
 
('Dyson' or the 'Company') 
 
 
Board Changes 
 
 
The Board of Dyson Group PLC (LSE: DYS), the materials technology group, 
announces that Patrick Lammers has resigned from the Board and has stepped down 
as Chief Executive by mutual agreement with effect from 21 October 2009. Julian 
Cooper, who has, since August this year, been and will continue to be 
responsible for the finance function at Dyson as a professional adviser to the 
Company, has been appointed by the Board to act in the non-Board role of Interim 
Chief Executive of the Group. 
 
 
Mr. Cooper, who has been advising the Board of Dyson as a consultant since July 
2009, is an ICAEW qualified chartered accountant and former partner of Arthur 
Andersen. He is an experienced interim manager and management consultant. The 
focus for Dyson in the immediate future is on financial activities with regard 
to the Group's restructuring. Mr. Cooper's experience of turn around situations 
and restructuring companies is ideally suited to Dyson's short-term needs. 
 
In addition, the Dyson Group announces that Dr. Christopher Honeyborne, 
currently Non-Executive Chairman, will become Executive Chairman of the Group 
with immediate effect. He will work closely with Mr. Cooper in his role as 
Interim Chief Executive. 
 
 
The Company reports that continued progress is being made with regard to the 
restructuring plans and refinancing negotiations with its two banks, Lloyds TSB 
and Svenska Handelsbanken.  Banking discussions are ongoing and a further 
announcement will be made in due course. 
 
 
Dr. Christopher Honeyborne, Chairman of Dyson Group, commented: 
 
 
"The Board would like to thank Patrick for his commitment to the Company and for 
what has already been achieved at Dyson under his guidance during this difficult 
time and unprecedented challenging market conditions. Since his appointment, 
Patrick has achieved significant operational improvements within the Group and 
has created an organisation with a market-driven and customer-focused 
strategy. On behalf of the Board of Dyson, I wish Patrick well for the future." 
 
 
 
 
For further information, please contact: 
 
 
+-------------------------------------+---------------------------------------+ 
| Buchanan Communications             |                                       | 
+-------------------------------------+---------------------------------------+ 
| Charles Ryland / Ben Willey /       |                         0207 466 5000 | 
| Catherine Breen                     |                                       | 
+-------------------------------------+---------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 BOAPUGGUUUPBUBP