Business & Finance

Executive Shake-up at Quadtel

By Joshua Smith - May 28th, 2001

Quadtel Limited (ASX:QTL) expressed their regret today at the announcement that Mr. Jurg Walker and Mr. Brendan Brown have tendered their resignations from the company's board of directors.

In its press release, the company claimed that these resignations have been tendered due to the growing pressures from other business commitments, which have left the two executives with less time to devote to the company.

In their place, Mr. Terence O'Leary, the major shareholder of the company, has been invited to join the board of Quadtel. Mr. O'Leary was the founder and previously managing director of Caledonian Pacific Minerals NL and has extensive public and commercial experience. His acceptance of this invitation demonstrates his continued commitment to the company going forward.

Quadtel's board has welcomed Mr. O'Leary and expressed their appreciation for their contributions made by Mr. Brown and Mr. Walker during their time as company directors.

The company's stock closed 5.71% lower today, last trading at $0.066/share.