The board of directors of Northern Bear (the “Board”) today announces the resignation of Graham Forrest, both as Chief Executive Officer (“CEO”) and as a director of the Company, with immediate effect.
The Company will use the occasion of Graham’s resignation to review the Board’s composition and to ensure that the talent that exists within the business is being utilised most appropriately. Howard Gold, Chairman of Northern Bear, will oversee this process, which will include, inter alia, the appointment of a new CEO.
The Company looks forward to announcing its interim results for the six months ended 30 September 2011 by 30 November 2011 at which time the Company will report that trading across all divisions is in line with management’s expectations.
For further information contact:
Northern Bear Plc
Steve Roberts – Chief Financial Officer +44 (0) 77 1047 3125
Strand Hanson Ltd
James Harris / James Spinney +44 (0) 20 7409 3494
Seymour Pierce Ltd
Katie Ratner / Paul Jewell / David Banks +44 (0) 20 7107 8000