Morse plc ('the Group') provides further details in relation to the structure of the Group and resultant changes to the Board.
At our preliminary results we announced the separation of the Group's activities into two distinct operating businesses, Core Morse and Monitise, with a holding company to oversee the performance of the two businesses.
We have now completed our review of the appropriate level of resource required at the holding company level and agreed the structure of the Group Board as follows:
Richard Lapthorne remains Non-executive Chairman, Duncan McIntyre remains Group Chief Executive and Eric Dodd joins the Board as Group Finance Director. Derrick Nicholson, Nigel Whitehead and Colin Tucker remain Non-executive Directors.
At an operating level, Duncan McIntyre becomes Executive Chairman of both Monitise and Core Morse. David Beresford, who steps down from the Board, is a key member of the small Senior Executive Team of Core Morse, headed by Kevin Alcock.
Phil Coll will leave the Board in early January 2007, continuing with the Group in a full-time capacity until September 2007.
Bill Passmore has previously announced his retirement from the Board and will step down at the Annual General Meeting in November 2006.