Cadmus Appoints Top Team For Growth

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Cadmus Appoints Top Team For Growth

Key Managerial Appointments Including New CEO

Auckland, 23 May 2007 – Cadmus Technology (NZX: CTL) New Zealand’s leading electronic payment solutions provider and exporter of EFTPOS terminals today announced that it has made three key managerial appointments including a new Chief Executive Officer, Chief Operations Officer and GM Sales and Marketing as part it’s restructuring for growth.

Former head of Teradata Julian Beavis has been appointed as CEO of Cadmus. He is joined by Neil Livingston (formerly of Modempak and Ericcson) as Chief Operations Officer and by Stefan Lecchi as GM Sales and Marketing following a successful Sales and Marketing career with companies such as Telecom New Zealand.

Jim Doyle, who has been the interim CEO of Cadmus since the restructuring programme was first announced in April, says he is delighted with the calibre of appointments.

“Securing such a range of leading industry experience and ability is critical for the future direction and expansion of the Company. It provides Cadmus a strong platform for implementing the next stage of it’s growth plans. I look forward to working with Julian Beavis and his team and will ensure a smooth transition for the business” says Doyle.

“Julian, Neil and Stefan have all had experience in scaling, building and launching major technology products and brands which is ideal for Cadmus as one of New Zealand’s leading technology companies looking toward a similar growth path.”

Doyle will remain with Cadmus in an advisory capacity to assist CEO Julian Beavis in the next few months.

Cadmus CEO Julian Beavis was formerly head of Teradata, a Division of NCR Corporation, where he was responsible for managing a growing data warehouse and CRM solutions across the business banking, telecommunications, retail and airline industries. He played a significant role in a number of leading innovative international projects.

Prior to leading Teradata, Beavis was responsible for establishing the division of NCR’s business in New Zealand. He was also the country manager for NCR's New Zealand subsidiary whilst concurrently filling the role of Vice President for NCR's Retail Solutions Group for the Asia-Pacific Region.

Cadmus’ new COO, Neil Livingston, has led and managed teams from small specialised groups to large multi-functional teams in an outstanding career primarily with the telecommunications industry in New Zealand and internationally. Previously General Manager of Modempak, Neil grew the revenues, operational efficiencies and market share of the telecommunications and manufacturing company as well as maintaining effective relationships with all of the country’s major telecommunications carriers.

Previously Neil has been a Director of Vodafone Pacific, the General Manager for Ericcson New Zealand, and spent three years with Ericcson Sweden as a Regional Sales Manager. He has strong management and operational skills including experience in developing, implementing and monitoring large scale cost and sales budgets.

Stefan Lecchi completes the third key Cadmus appointment as the new GM Sales and Marketing. He brings a strong background leading some of the biggest sales and change management projects in New Zealand, as well as successful global marketing and communications campaigns for companies such as Fusion, and has had senior roles with Telecom New Zealand from 1998 to 2005.

Among Stefan’s many achievements were leading the launch of the 3G and Mobile Jetstream networks and ensuring Telecom gained a sizeable market share through new income streams with wireless data.

Peter Maire, Chairman of Cadmus says that the senior management team brings together the right combination of technology skills and global market experience to give the Company the impetus it needs going into the next phase of its growth.

“Cadmus now is securely anchored with some of the best managerial talent to transform the inherent worth in the Company to be not only one of New Zealand’s leading technology providers, but also an important force in the global electronic payments market,” says Maire.

ENDS

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