Ashley (Laura) Hldgs PLC Directorate Change (4478K)

TIDMALY

RNS Number : 4478K

Ashley (Laura) Hldgs PLC

13 December 2018

13 December 2018

Laura Ashley Holdings plc

Tan Sri Dr Khoo Kay Peng retires from Laura Ashley Holdings Plc.

Laura Ashley Holdings Plc ("Laura Ashley" or "the Company") today announces that its Non-Executive Chairman, Tan Sri Dr Khoo Kay Peng, is retiring and has resigned with immediate effect from his positions as Chairman and as Director of the Company. He has been the Chairman of the Company since 1999.

Tan Sri Dr Khoo has also retired as the Executive Chairman of Malayan United Industries Berhad (MUI), after four decades at its helm. The MUI Group is a significant shareholder of the Company.

Mr Andrew Khoo Boo Yeow, Non-Executive Director of the Company and current Executive Chairman of MUI, has been appointed by the Laura Ashley Board as their new Non-Executive Chairman, also with immediate effect.

A prominent Malaysian businessman, Tan Sri Dr Khoo saw the potential value of the Laura Ashley brand when he invested in the Company more than two decades ago.

Mr Andrew Khoo said: "Tan Sri Dr Khoo leaves an important legacy and retires having left Laura Ashley a stronger and much-loved global brand as a result of his vision. I look up to what he has achieved, draw inspiration from his remarkable accomplishments and continue to follow the values he espouses."

Mr Ng, Chief Executive, Laura Ashley, said: "Laura Ashley has greatly benefited from the leadership of Dr Khoo and we are very grateful for his significant contribution to the company. We are pleased to have Andrew Khoo as our new Non-Executive Chairman. He has been on the Company Board for a number of years and has a substantial knowledge of the business and a deep affection for the Laura Ashley brand. His entrepreneurship will be a valuable asset to the business and we look forward to a strong future under his Chairmanship".

The Company makes this announcement in accordance with LR 9.6.11 of the Listing Rules.

Enquiries:

 
 KC Ng / Seán Anglim       Laura Ashley                 020 7880 5100 
 Anita Scott / Helen Smith      Brunswick                    020 7404 5959 
 Rick Thompson / Catherine 
  Leftley                       Cantor Fitzgerald Europe     020 7894 7000 
 

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(END) Dow Jones Newswires

December 13, 2018 11:34 ET (16:34 GMT)