Charlie’s Appoints New Independent Director

Charlie’s Appoints New Independent Director

Listed beverage maker Charlie’s Group Ltd has appointed finance and marketing expert Mark Darrow as an independent director from May 1, 2007.

He is the second independent director on the five-member board, the other being the chairman, Ted van Arkel.

Mr Darrow, 43, a senior executive with GE Money, based in Auckland, has a strong management and financial background, including sharebroking and asset management. He has also had chief executive roles in several companies in the retail, distribution and marketing sectors.

He is a chartered accountant with a bachelor of business degree and is also an independent director of the New Zealand Motor Industry Training Organisation.

Charlie’s chief executive, Stefan Lepionka, said Mr Darrow would play a key role in the company’s market-led expansion.

“We are fortunate to have attracted a director with such a strong blend of skills. His contribution will prove vital during an important development phase for the company.”

Mr Darrow said he was delighted to be part of the Charlie’s Group and to be working with the Charlie’s and Phoenix brands.

“This is a company I have admired and followed closely from day one, and in fact I purchased the first shares transacted on the NZX when they were publicly listed,” he said.

“The management team is talented and energetic and, together with a stable board of directors, can only grow further. It has been an amazing story to date and I now look forward to being part of the exciting future.”

Note to editors: Charlie’s Trading Company Ltd was formed in 1999 and listed on the NZX in July 2005 via a reverse acquisition of the shell company Charlie’s Group Ltd (formerly Spectrum Resources Ltd). It is a leading marketeer, manufacturer and supplier of a range of premium juices and beverages. In 2005 it doubled in size with the acquisition of the Phoenix Organics Group. Charlie’s most recent financial result, for the six months ended December 31, 2006, recorded operating revenue of nearly $11.7 million resulting in a surplus before interest, tax, depreciation and amortisation of $636,000.

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