Appointment Chief Executive

RNS Number:9704H
Conival plc
31 January 2005

31 January 2005



                    Conival plc ("Conival" or "the Company")


               Appointment of Jeremy Schwartz as Chief Executive


Conival announced on 28 January 2005 that, following the passing of relevant
resolutions at an EGM the previous day, it had completed the acquisition of
Portfolio Products Limited ('Portfolio') and its enlarged share capital had been
admitted to trading on AIM.


Conival's AIM Admission Document dated 11 January 2005 stated that Portfolio
intended in due course to appoint, inter alia, a chief executive responsible for
developing and implementing Portfolio's strategy, with emphasis on contacts with
food retail buyers.  The Company is now pleased to announce that Jeremy Schwartz
has been engaged as Chief Executive of the Company and has entered into a
service contract with the Company effective from today.


Conival has agreed to a share option arrangement with Jeremy Schwartz whereby,
subject to certain performance conditions, he will have an option over 7.5% of
Conival's enlarged issued share capital.  He has additionally agreed to an
arrangement whereby he may call on certain of Conival's major shareholders,
subject to similar performance conditions, for in aggregate 2.5% of Conival's
enlarged issued share capital.


Jeremy Schwartz, aged 42, is a Cambridge postgraduate. His career has been in
FMCG marketing, including Marketing Director with L'Oreal and The Coca-Cola
Company.  Since 2002 he has been Brand Marketing Director of Sainsbury's PLC,
responsible for developing and repositioning the Sainsbury's brand. This
included re-establishing Sainsbury's focus on quality across their own brands,
becoming more competitive on price and repositioning their brand advertising and
identity.


Conival now owns the rights to a number of celebrity names and brands in
relation to certain food, beverages and nutritional products, including among
others Marco Pierre White, Jean Christophe Novelli, Nancy Lam, Vineet Bhatia and
Matt Roberts, together with use of the Blenheim and Blenheim Palace names.
Jeremy Schwartz will have primary responsibility for establishing and developing
products branded with these and other names and for securing marketing deals for
such products with major retail outlets.


Richard Thompson, Chairman of Conival, commented today:


"The Board is very pleased to have secured the services of a Chief Executive of
such high calibre."


Jeremy Schwartz commented: "There is a real emerging opportunity to create
contemporary brands that address the new customer demands around health,
indulgence and convenience.  In the near term, we will seek to capture the
creativity of our celebrity chefs and combine it with sourcing efficient
manufacturing.  We are seeking to bring to customers across Britain good value
for money, delicious foods and beverages".


For the purposes of paragraph (f) of schedule 2 of the AIM rules, Jeremy
Schwartz's full name is Jeremy James Leighton Schwartz, he is 42 years old.  No
other disclosures are required under paragraph (f) in respect of Mr Schwartz.


Enquiries:


John Bick, Holborn                               tel: 020 7929 5599


Ends


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

BOAPUUQAGUPAPWB

Conival (LSE:CVL)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024