Chairman Steps Down, Danka Names New Chief Executive Officer
Press release from the issuing company
ST. PETERSBURG, FL (February 14, 2001) - Danka Business Systems, PLC (NASDAQ: DANKY) announced today that P. Lang Lowrey has been named a Director and Chief Executive Officer of the Company, effective March 1, 2001.
Mr. Lowrey most recently served as Chairman and Chief Executive Officer of eMags Solutions, LLC, a worldwide data storage solutions and services company. Prior to eMag, Mr. Lowrey was the Chairman and Chief Executive Officer of Anacomp, Inc., a publicly held imaging solutions and services company which Mr. Lowrey successfully revitalized by restructuring all aspects of the Company. Michael Gifford, Danka's interim Chief Executive Officer, stated: "Mr. Lowrey brings to Danka a broad experience in the imaging solutions and services business, as well as hands-on experience dealing with restructuring issues similar to those Danka is encountering today. He has a demonstrated history of leadership and success. We are delighted to have him lead Danka's management team and join the Board of Directors."
The Company also announced that Michael B. Gifford will become Chairman of the Board, also effective March 1, 2001. Mr. Gifford has served as Danka's interim Chief Executive Officer since October, 2000 and has been a Director of the Company since September, 1999. Prior to joining the Board, Mr. Gifford was the longtime Group Chief Executive Of The Rank Organization PLC, a London based leisure and entertainment conglomerate. Mr. Gifford also serves on the Board of Directors of The Gillette Company.
The Company also announced that David W. Kendall will retire as Chairman of the Board and as a Director, effective March 1, 2001. Mr. Kendall was named Chairman of the Company in October, l998 and has served the Company as a Director since July, 1993. Mr. Kendall has had a long and distinguished career leading various prominent companies in the United Kingdom and elsewhere. Mr. Gifford stated on behalf of the Board of Directors: "We thank David for his many contributions to the Company during very challenging circumstances. His thoughtful leadership to the Company will be missed. The Board wishes David well in his retirement."
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