TEXT-NZ's Hallenstein Glasson says appoints CEO

(The following statement was released by the company)

WELLINGTON, Jan 30 - The Chairman of Directors of Hallenstein Glasson Holdings Limited, Warren Bell, today announced the appointment of Ms Shayne Quanchi as Group CEO.

Shayne Quanchi has significant experience in the apparel industry, most recently as a senior executive at Myer in Australia where she was Divisional Business Manager - Miss Shop and Young Men's.

Ms Quanchi has previously held a management role with Just Jeans in Australia and has owned her own import and wholesale clothing business, selling to women's brands such as Sportsgirl, Just Jeans, Miss Shop and Cotton On.

Mr Bell said, "Ms Quanchi's appointment is the result of an extensive searchfor the person with the right mix of fashion, retail and Australian business experience to lead the organisation into the future.

We welcome her to the role and look forward to her taking up the position by the beginning of March."

Mr Bell said, "Ms Quanchi will remain Melbourne based and divide her time between both Australia and New Zealand as necessary. The appointment is strategically significant in that it supports our determination to strengthen both our presence and position in the Australian market."

"More than 90% of our profit currently comes from the New Zealand market where we are a very strong performer in the fashion industry. We intend to maintain that leadership position while pursuing the obvious growth opportunities for us across the Tasman, particularly with the Glassons brand.

"Hallenstein Glasson Holdings currently has 25 Glassons stores in Australia.

In New Zealand there are 36 Glassons stores, 47 Hallensteins stores, and three Storm stores.

On the announcement of her appointment, Ms Quanchi said, "I'm thrilled to be taking on this new role. Hallenstein Glassons has established a great recipe for success based on knowing their customer well. They have the right product mix and back it up with great visual merchandising. My challengewill be to grow the success of the New Zealand business, while capitalising on the fantastic growth potential in Australia."