New CEO for CLS Holdings Plc (UK)

CLS Holdings plc (CLS) is pleased to announce that Richard Tice will become Chief Executive Officer with effect from January 1, 2011.

At the same time, Henry Klotz will assume the new role of Executive Vice Chairman and Thomas Lundqvist will step down as Non-Executive Vice Chairman but remain a Non-Executive Director of CLS.

Sten Mortstedt, Executive Chairman of CLS, commented: "These changes reflect our commitment to succession planning and ensuring that CLS is well positioned for the future. Richard has already proven that he will be a very capable Chief Executive Officer and has the right skills to manage the next phase of our development.

"I would like to thank Henry for managing CLS so successfully through the most difficult property market in living memory and I am delighted that he will take up a new role with us. We will continue to benefit from his extensive international business experience and he will remain as Chairman of our associate company, Catena AB.

"I would also like to thank Thomas for his Vice Chairmanship and his continuing contribution to the Board."

Source: CLS Holdings

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