Punch Graphix Appoints New CEO
YORK, UK/VIJFHUIZEN, THE NETHERLANDS—18 October 2007—The Board of Directors of Punch Graphix plc and the Supervisory Board of Punch Graphix nv announce that Ben Van Assche is to step down as Chief Executive Officer (CEO) with effect from 31 December 2007. He will be succeeded by Wim Deblauwe, current Chief Financial Officer (CFO) at Punch International nv, the majority shareholder of Punch Graphix nv, and a Non-Executive Director of Punch Graphix plc. Ben Van Assche will be appointed as a member of the Punch Graphix nv Supervisory Board with effect from 1 January 2008.
Following the unexpected death of Dick Tilanus in January 2006, Ben Van Assche was appointed CEO of Punch Graphix plc in April of the same year. Prior to joining Punch Graphix plc, he had been active in the chemical and pharmaceutical industries for more than 30 years, including positions as President of UCB Pharma and UCB Chemicals and as CEO of Cytec Surface Specialties nv. Last July he was appointed CEO of Punch Graphix nv. Punch Graphix nv holds approximately 97% of the shares of Punch Graphix plc.
“My efforts for Punch Graphix have consistently focused on leading the development of the Group in the interest of all its stakeholders. The evolution of the shareholder structure since the beginning of this year has added an extra dimension,“ said Ben Van Assche. “The foundation has been laid for further development and I will continue to support Wim Deblauwe, whom I congratulate on his appointment.”
Prior to his appointment as CFO at Punch International, Wim Deblauwe fulfilled various operational and executive roles at Punch Graphix and as such he is well acquainted with the company and the graphics industry. There are no further disclosures required under para (g) of Schedule 2 of the AIM rules in relation to Wim Deblauwe.