In a follow up statement issued to the market, the Board of Fijian Holdings Limited announced the reallocation of the FHL Management team within the FHL Group.

 

In making the announcement, the Chairman of the Fijian Holdings Limited, Mr Isoa Kaloumaira said that ‘the Board of Fijian Holdings Limited has endorsed the reallocation of the FHL Management Team recommended by the Managing Director’ to allow for more exposure and experience among senior Managers.

The changes are in line with the FHL Human Resources Development and Succession Planning Strategy, where Managers are continuously developed through exposure to different industries within the Group.

 

The Managing Director, Mrs. Sereana Qoro today outlined the key changes. The Group Human Resources Manager, Mr. Jonetani Tonawai will now look after Basic Industries Limited and Fiji Industries Limited, FHL’s two largest employers as the Human Resources Manager; and Tomasi Radakua , the Human Resources Manager for FHL, specifically looking after other Companies in the group, effective 1^st July, 2008’, she said.

 

The Group Chief Financial Officer, Mr. Nouzab Fareed, due to his experience in financial services, is currently assisting me in day to day operations of Merchant Finance while we advertise the Chief Executive Officer position for Merchant Finance in the market. Aiyaz Musa, the Manager Finance and Administration for Basic Industries and Fiji Industries has been appointed the Chief Financial Officer for FHL’ she added.

 

‘In addition, Mrs Mariana Saumadu, the Internal Auditor for Basic Industries and Fiji Industries has been appointed as the Group Internal Auditor, a role that has been vacant for sometime. Mrs Saumadu has also assumed the Company Secretary role previously handled by Ms Finau Soqo. Finau Soqo will now focus on her role as the Manager Investment and Strategy which is a very significant one for Fijian Holdings’, she said.

 

 

 

 

We have also appointed Mosese Volavola, the General Manager for Standard Concrete Industries and Civil Engineer by training, to be the Acing Chief Executive Officer for Basic Industries Limited and Fiji Industries Limited’ she said.

 

‘Further to the statement that we released this morning, these changes are all internally made to ensure business continuity while promoting management staff

exposure in all FHL businesses. Management Staff transfers transfer across companies within the group does not mean that there are changes to the Strategic direction of the Company. In fact, the changes are intended to fully support the existing direction of the Company.

 

End

 

Dated this day 25 June 2008.

 

For further queries, please contact the Company Secretary, Mariana Suamadu on 3305017.