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Dairy Farm Announces Appointment Of New Group Chief Executive
3rd October 2006 - Dairy Farm today announced that Ron Floto is to retire as Group Chief Executive of Dairy Farm on 31st March 2007. He will be succeeded by Michael Kok.
Michael Kok first joined Dairy Farm in Singapore in 1987. He is currently Dairy Farm's Regional Director for South Asia and in this role has overseen sustained sales and earnings growth in South Asia in recent years.
Chairman of Dairy Farm, Simon Keswick, said, "Following his appointment as Group Chief Executive in 1997, Ron has been instrumental in restructuring Dairy Farm's operations and has
led the Group's strong return to profitability. I would like to thank him for his significant contribution to the Group. We are pleased that he is remaining on the Board in a non-executive capacity. I would also like to congratulate Michael on his appointment."
Dairy Farm is a leading pan-Asian retailer. At 30th June 2006, the Group and its associates operated 3,343 outlets - including supermarkets, hypermarkets, health and beauty stores,
convenience stores, home furnishings stores and restaurants; employed over 62,000 people in the region; and had 2005 total sales of US$5.5 billion.
Dairy Farm International Holdings Limited is incorporated in Bermuda with its primary share listing in London. The Company's shares are also listed in Bermuda and Singapore. Dairy Farm is a member of the Jardine Matheson Group.