Parallel Media Group PLC (‘PMG’) consolidates its structure following further new investment from its Malaysian investors. PMG the international executive sports company today announces a restructuring designed to consolidate its global interests.
PMG, whose principle interests are in the world of international Tournament Golf, holds licences to some of the most significant world golfing events. Its event schedule is played over 26 different weeks in the year and covers Asia, Latin America and Europe.
The reorganisation sees the board restructured along regional lines so that clients and sporting authorities alike enjoy maximum contact and support from the Group’s most senior personnel.
From the 20th August 2004, Tan Sri Mohd Razali Rahman will take office as Non-Executive Chairman for PMG and Parallel Media Asia working with David Ciclitira who takes on the role as Group President and CEO and will be responsible for the international growth of the company.
David Ciclitira stated – ‘It has been my ambition over the last two years to split the role of Chairman and Chief Executive. The proposed appointments are a very good step for PMG both as a PLC and as a group of regional companies focussed on golf. Tan Sri Razali, who is a major shareholder of the Peremba Group of Companies in Malaysia, has extensive business interests in Malaysia and other parts of the world. Through the Saujana Group, which owns one of Asia’s most successful golf clubs, Saujana Golf and Country Club, Tan Sri Razali has been in the forefront of promoting the golfing industry in Malaysia. We are delighted that he has accepted this post. I am confident that his appointment will be welcomed by all our staff and clients as well as the sporting authorities with whom we have such close relationships. Keld Kristiansen continues as a director of PMG and as the Managing Director of Parallel Media Asia’
Tan Sri Razali is a director and chairman of Landmarks Berhad and Saujana Consolidated Berhad, both listed on the main board of Bursa Saham Malaysia. Saujana Golf and Country Club with its 2 international championship golf courses has played hosts to numerous international golfing events including the Malaysian Open, the Eisenhower Cup and the Espirito Santos Trophy. It also recently enjoyed the honour of being one of The British Open qualifying venues.
Through the Landmarks Group, Tan Sri Razali was involved in the development of Datai Bay Resort, comprising 2 hotels, The Datai and The Andaman and the 18 hole Datai Golf and Country Club, set in the rainforest of Langkawi. The spectacular 88-room ‘The Datai’ hotel has been voted by Conde Nast Traveler on numerous occasions as one of the world’s leading destinations in various categories for hotel, resort and spa.
Other board movements include Graham Axford stepping down as Managing Director but remaining on the board of the PMG subsidiaries, PGAA Media Ltd, which has a long term agreement with the Tour de las Americas and Parallel Media Italia, which represents the commercial rights of the Italian Rugby Federation.
Tan Sri Razali commented. ‘We are very grateful to Graham. He has steered the company through some difficult times and now that we have reached a point of stability he is able to relinquish many of his interim responsibilities and apply his undoubted skills on developing our Latin American interests.
This is a very important market to golf and to PMG. It is like Asia in its infancy and like Asia in its promise. By us developing strong management and investment in these two regions, underpinned by strong positions in the mature markets of Europe, we are all confident that PMG has a bright future’
David Ciclitira continued ‘I am very happy with these changes in PMG. Through the years we have developed some very strong managers who have worked their way to the forefront of this business and it gives me particular pleasure to be able to work in a manner where my knowledge and skills can now support their efforts. These changes will result in a team that is the strongest in the company’s history and I feel confident that the group’s business will benefit tremendously from this new structure’.
For further information please contact:
Leesa Peters, Conduit PR, +44 (0) 20 7936 9095
Wynton Faure, PMG, +44 (0)2072252000