The Board of Directors of Promotion and Development Ltd. informed the shareholders and the public in general that Mr. René Leclézio, Chief Executive Officer of PAD reaches retirement age at the end of September 2021. With a view of ensuring the smoothest possible transition at the helm of group, the Board of Directors of PAD has asked Mr. René Leclézio to stay on as Chief Executive Officer, until the end of the year 2021, on the basis of an ad-hoc, three month contract. The Board has also approved the appointment of Mrs. Jocelyne Martin, currently Finance Director, as Chief Executive Officer of PAD, with effect from 01 January 2022.