Troubled Ennstone announce appointment of new Executive Chairman

The Board of the troubled Ennstone Group, operator of four Argyll quarries – at Furnace, Dunbeg, Benderloch and Bonawe – have this morning (5th January 2009) announced that Julian Cooper has joined the Board with immediate effect as Executive Chairman.

Mr Cooper is a Chartered Accountant and brings to the Board his considerable experience in a variety of executive management positions.  He is a senior partner of consultants, MPC Partners LLP and is a former partner at Arthur Andersen. This was once one of the Big Five international accountancy firms until its collapse in 2002, mired in the Enron financial scandal in the USA.

Julian Cooper succeeds Graham Brown who will remain on the Board as a non-executive Director, ensuring a smooth transition. The Board of Enstone Group wish to thank Mr Brown for his service to the Group as Interim Executive Chairman.

The coming days and weeks will be critical to Ennstone in its admitted difficulties, as For Argyll has reported, so Mr Cooper joins at a time when all of his skills and experience will be immediately needed. It is in Argyll’s interests that he succeeds.