As announced in company announcement no. 4/2010 of today, the board of directors of FirstFarms A/S does not consider the financial development of the company satisfactory. As a result, the board of directors has decided to make a change at management level for the purpose of increasing focus on cost management and efficiency.
FirstFarms's CEO, Mr Kim Stokholm, therefore retires from his position with the company.
Kim Stokholm has been CEO of the company since October 2006 and was involved in the stock exchange listing of the company in December 2006. Kim has put in tremendous efforts in building up the company as a listed company and in establishing the company's activities in Romania and Slovakia.
However, member of FirstFarms's board of directors and farmer, Mr Per Villumsen, will temporarily function as CEO until a new management board is in place.
Per Villumsen will in addition to discharging his duties as CEO continue as a member on the board of directors of FirstFarms.
Per Villumsen has more than 30 years of experience in farming and has through, .e.g., his directorships in Farm Invest Holding A/S and Dan-Moravia Invest A/S gained considerable experience in farming in Slovakia and Romania.
Best regards,
FirstFarms A/S
For further information:
Please visit our website www.firstfarms.com or contact Chairman of
the Board of Directors, Mr. Henrik Hougaard on telephone +45 40 53 62 48.
