CHERTSEY, U.K., April 26, 2002 (PRIMEZONE) -- At today's Annual General Meeting, Dr. George Gray, Non-Executive Chairman of Regus plc (Nasdaq:REGS), announced his intention to retire in two months time in June 2002.
Dr. Gray, 64, has been on the Regus board since 1999 and Non-Executive Chairman since 2000. A former Chairman of business services firm Serco Group plc, Dr. Gray has been reducing his various business commitments for some time.
Regus CEO Mark Dixon said: "George Gray has made a major contribution to our business. He helped take the company to flotation and his advice and support have been invaluable. He'll be greatly missed. We all wish him well."
Dr. Gray commented: "It's been a pleasure working with Regus. Regus' concept of the outsourced office offers corporations the opportunity to manage property costs in a new and aggressive way. As more and more businesses outsource their office requirements, I am confident Regus will go from strength to strength."
Dr. Gray will be succeeded by Mr. John Matthews, 57, a Non-Executive Director of Regus, and current Chairman of Crest Nicholson plc, the listed U.K. home building and property development company.
Notes for Editors:
John Matthews, aged 57, has been on the board of Regus plc since 1995. He is currently Chairman of the company's audit and remuneration committees and a member of the nomination committee.
John has also been Chairman of Crest Nicholson plc, the listed UK home building and property development company, since 1995.
Prior to this, John Matthews held a number of senior executive roles in investment banking and in the international aggregates, building and construction industries.
He qualified as a Chartered Accountant in 1967 prior to joining N M Rothschild in London. From 1971 to 1988, he was with County NatWest Ltd., the investment banking division of National Westminster Bank plc, where he became a managing director specialising in international corporate finance.
From 1999 to 2001, he was Deputy Chairman and Deputy Chief Executive of Beazer plc, a company listed on the U.K. and U.S. stock exchanges and involved in the United States, primarily in building materials, aggregates and cement. He was Chief Executive of Indosuez Capital Ltd, the U.K. investment banking subsidiary of Banque Indosuez, until 1994.
John Matthews currently holds directorships in three U.K. listed companies other than Regus (Rotork, SDL, Nationwide Accident Repairs) and sits on the board of several private organizations.