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Countrywide says directors Sporborg, Mason to stay on until offer outcome known


Published : Fri, 09 Mar 2007 17:41
By : Agencies
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LONDON (AFX) - Countrywide PLC said its chairman Christopher Sporborg and non-executive director Peter Mason will defer their retirements until the outcome of the recommended offer for Countrywide from Apollo Management LP is known.

Sporborg and Mason had previously intended to retire March 13, when the company announces its preliminary results for 2006.

Harry Hill, who it is planned will succeed Sporborg as non-executive chairman, will remain an executive director until the takeover process is concluded.

Earlier this week, Apollo confirmed it had agreed a 1.008 bln stg takeover of Countrywide, Britain's biggest estate agency chain.

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