BPB announces that, with effect from 1 July 2002, Paul Hollingworth will replace Peter Sydney-Smith as Group Finance Director.

Mr Sydney-Smith, who will be 50 this year, is leaving BPB after almost 20 years of dedicated service, during half of which he has been Group FD. He will remain fully involved in preparing and delivering BPB’s year-end results, and will then provide short-term assistance on a consultancy basis in connection with the group’s IT strategy review and the handover of his existing operational responsibility for Southern Africa.

Mr Hollingworth, a British citizen who will be 42 later this month, is currently Finance Director of De La Rue plc, the world’s largest commercial security printer and papermaker. He previously held similar positions at English China Clays plc and Ransomes plc/Textron Inc, worked in a number of finance and business development roles at the former Unigate plc and in the early 1980s was an audit senior with Pannell Kerr Forster and one of its associates in London and South Africa. He graduated from the University of Witwatersrand, South Africa as a Bachelor of Commerce and a Bachelor of Accountancy before qualifying in that country as a Chartered Accountant in 1983.

Commenting on these changes, Richard Cousins, BPB Chief Executive, said:

“On behalf of the Board I should like to thank Peter Sydney-Smith for his significant contribution to the group’s development and to wish him well for the future. I am pleased we have been able to arrange a smooth handover to Paul Hollingworth who will now build upon the sound financial foundation laid by Peter. Paul brings to BPB a broad range of UK and international experience which should dovetail well with our wide geographic spread and growth ambitions.”

BPB is a world leader in the supply of plasterboard, plasters, insulation, ceiling tiles and related products for internal linings, serving growing markets for building systems in over 50 countries.

Group results for the year to 31 March 2002, together with the recommended final dividend, will be announced on 30 May 2002.







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