Compass post
PA Auckland; Mr M. B. Francis has been; appointed managing director. Of Compass Duty Free after the resignation of Mr C. R. Hill.
; Mr Hill was charged in the Auckland District Court this week with setting fire to two premises of an opposition firm, Duty Free Shoppers. ) Mr Francis was an executive director of Compass Duty Free. He told a press conference yesterday Compass was trading profitably and was in a strong financial position. [ It would report on its first six months as a second boardlisted company on April 30. Mr Francis said negotiations were proceeding for sale of Compass franchises.to expand the company which
now has three stores in Auckland, including a new outlet at Auckland Airport. “Compass has some exciting projects under way which will be announced in the near future,” he said. The Compass board of directors had been reduced from six to four members by resignation of Mr Hill and that of Mr Rex Pearson, who was chairman but left to avoid a conflict of interest after his appointment as executive chairman of the New Zealand Stock Exchange. Mr Francis said he thought four directors were enough to run the company. Mr J. G. Vickovic has been appointed the new chairman of the company.
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Press, 4 March 1988, Page 12
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210Compass post Press, 4 March 1988, Page 12
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