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Provenco Cadmus merger CEO Announcement

Provenco Cadmus merger CEO Announcement


Chairman of the merger establishment board and Provenco, Rick Christie, is pleased to announce the appointment of Auckland businessman Jim Doyle as CEO - designate of the proposed merged companies of Provenco Group (PVO) and Cadmus Technology (CTL).

Shareholders of both companies will vote on the merger proposal at special meetings on Wednesday April 23.

Mr. Doyle will take up the role of CEO effective from the merger date of May 8, assuming shareholder approval for the merger proposals is received.

Mr Christie said the appointment signals the determination of the merger establishment board to create a strong and successful international business from the merged companies.

"We need to move quickly and definitively post merger, and Jim is exactly the leader we need to take the company forward.

"This is a highly significant step in our journey to grow the business to its full potential. Jim is a proven leader of technology companies competing in a global market, and his experience is unrivalled", Mr Christie said.

Jim Doyle is an established leader of a number of successful technology companies, with over 25 years management experience in Scotland and South Africa. He came to New Zealand in 1994.

He was appointed General Manager of Navman in 1997, and later became Chief Executive before leaving in 2006.

Since leaving Navman Jim Doyle has provided business advice to a number of technology-driven companies through his private company Ecosswi.

He is Chairman of Fusion Electronics and baggage-handling company BCS, director of Cadmus and Motion Industries and an advisor to Actronic. He also has an involvement in Peter Maire's investment company Tahia Investments.

Peter Maire, current Cadmus chairman and long time colleague, said Jim played a pivotal role in growing Navman from a $3million company to a $440million one.

"Jim is more than a safe pair of hands," said Maire. "He has a huge amount of energy and drive and is the right person to re-shape and grow the company".

-ends-


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