Mr Bogdan resigns from PEGAS NONWOVENS

08 Oct '08

2 min read

PEGAS NONWOVENS SA hereby announces that it received an official resignation letter from Mr. Miloš Bogdan, member of the Board of PEGAS NONWOVENS SA and Chief Executive Officer of PEGAS NONWOVENS s.r.o.

Mr. Bogdan resigned from the office of Board member and executive director of PEGAS NONWOVENS SA and from all positions within the group. Mr. Bogdan is leaving the Company due to personal reasons and his resignation is effective from October 6, 2008.

The duties of Chief Executive Officer at PEGAS NONWOVENS s.r.o. will be assumed by Mr. František Rezác, executive director and member of the Board of PEGAS NONWOVENS SA, in addition to his current position of Commercial Director.

His appointment is effective from October 7, 2008. Mr. František Rezác, aged 34, was appointed an executive director of the Company in November 2006.

Mr. Rezác joined the Company in 1996. He was promoted to the position of Commercial Director of PEGAS NONWOVENS s.r.o. in 2004, after having worked as the HR Director and Legal Counsel. Mr. Rezác is a graduate of the Law Faculty of Masaryk University Brno.

Mr. Bogdan served as a Board member of PEGAS NONWOVENS SA from November 2006 and worked for the Company in various positions since 1995.

The Company fully respects Mr. Bogdan's decision to leave the Company and appreciates his contribution to the Company´s performance during his leadership through the period of the IPO in 2006 and his achievements while managing the Company.

At the same time the Board of Directors of the Company has decided to streamline the number of Board members to the current number of six.

PEGAS NONWOVENS SA

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