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TRUWORTHS INTERNATIONAL LIMITED - Chief Executive Officer succession

Release Date: 06/11/2014 08:45
Code(s): TRU     PDF:  
Wrap Text
Chief Executive Officer succession

Truworths International Limited
(Incorporated in the Republic of South Africa)
(Registration number 1944/017491/06)
JSE Code: TRU
NSX Code: TRW
ISIN: ZAE000028296
(“the Group”)

CHIEF EXECUTIVE OFFICER SUCCESSION

The board advised in August 2014 that Michael Mark, who has served the Group as
CEO for 23 years with distinction, leading it from a niche retailer to one of South
Africa's most established and successful apparel retailers, had decided not to renew
his contract which expires at the end of June 2015. The board had embarked on a
CEO succession process using international search consultants and is delighted to
advise that Jean-Christophe Garbino has been appointed CEO Designate of the
Group with effect from March 2015.

Jean-Christophe is the 45 year old CEO of the prominent Kiabi fashion retail group
in France having been in its employ since 1992. He was appointed CEO of Kiabi in
2007 after successfully serving as General Manager for Spain, and since then the
retail group has grown from 200 stores in three countries to over 450 stores in 8
countries across Europe and Russia.

Kiabi is an omni-channel fashion retail chain which sells commercially priced fashion
apparel to ladies, men and children. It employs more than 7500 people and
delivered revenue of approximately Euro 1.5bn in its most recent reporting period.

Jean-Christophe will work closely with Michael, who will continue in his role as the
Group’s CEO and support the transition process for as long as is necessary. It is
envisaged that Michael will continue to serve on the Truworths International Ltd
board after his retirement as CEO.

Further announcements in this regard will be made in due course.



6 November 2014
Cape Town
JSE Sponsor: One Capital
NSX Sponsor: Old Mutual Investment Services (Namibia) (Pty) Ltd

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