SWJ Swan(J)

TIDMSWJ

RNS Number : 3727R

Swan(John) & Sons PLC

19 November 2012

19 November 2012

John Swan & Sons plc

Director Change

In anticipation of the retirement next April of Mr Jack Clark, John Swan & Sons PLC ("the Company") is to re-structure its board to reflect the changing focus of the business towards the management and development of the Company's property assets and related activities.

Jack Clark has spent 48 years with "Swans" - a remarkable achievement by any measure, and one which is recognised throughout the livestock auctioneering trade. He will be succeeded in the role of Managing Director of John Swan Limited by Steven Wilson, himself a 20 year "Swans" veteran, latterly in the role of Finance Director. Steven will assume full responsibility for John Swan Limited, with James Allen continuing as Chairman. Jack Clark will become a non-executive director of the Company upon his retirement from John Swan Limited. The Company will seek to appoint a suitable candidate to take overall charge of livestock auctioneering, reporting to Steven.

The board of the Company will in future focus primarily on property matters, in addition to its overriding responsibility as custodian of shareholder value. Jack Cadell, who joined John Swan Limited two years ago, will join the board of the Company with immediate effect to take executive responsibility for implementing a strategy of realising property assets. Recent economic conditions have been unhelpful in this regard, but it is important that the Company is equipped with the resources to take advantage of recovery in the property sector, as and when this occurs.

 
For further information, please 
 contact: 
John Swan & Sons PLC            0131 225 4681 
 Euan Fernie 
 
 N+1 Singer (Nominated Adviser 
  and Broker)                    0845 213 2072 
 Sandy Fraser 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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