New CEO For Maltapost

8 July 2002

Transend Worldwide Ltd, New Zealand Post’s international subsidiary, and Maltapost plc announced today the appointment of Robert Lake as the new CEO for Maltapost.

The appointment of the new CEO was made by Transend, as required in its management services contract with Maltapost, with approval from the Maltese Government-appointed Maltapost Directors.

Transend Acting Managing Director John Allen said the appointment of the CEO was a key commercial decision for the future of Maltapost, its employees, customers and Shareholders.

“The role will focus primarily on business development and revenue growth, the main components of Maltapost’s business plan.

“Mr Lake brings significant experience to the role as a postal leader spanning both the customer and the operational aspects of the business.

“When he left New Zealand Post in September last year Mr Lake held the position of General Manager of the Letters group and was responsible for all sales, marketing, customer service centres, processing and delivery functions covering New Zealand Post letters and parcels operations.”

Mr Allen said New Zealand Post has a general policy that requires two years between a person taking redundancy and returning to work again for the company. The policy allows exceptions where a business need exists.

“Specifically, the policy allows for the re-employment of people who have specialised knowledge or expertise that is required for fixed term off-shore consultancy work, subject to the approval of the General Manager Human Resources.

“The policy ensures Transend, which is tasked with exporting New Zealand Post’s expertise and systems around the world, has access to the widest possible base of former and current New Zealand Post employees as candidates for its management contracts.

“There is no doubt that Mr Lake is the strongest candidate for this key commercial role.”

Mr Lake is expected to begin work in Malta within the next few weeks, subject to a work permit being issued, on a fixed term contract through to 31 January 2004.

The role is one of three positions held by Transend contractors in Malta. The other two are marketing and operational roles.

In February, New Zealand Post purchased a 35 per cent equity share (980,000 shares) in Maltapost for NZ$6.5 million and holds a two-year management services contract for the management and operations of Maltapost.

Malta Government Investments holds the remaining 65 per cent share.

ENDS

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