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PUBLIC STATEMENT

16 January 2012

Since the management review of Lhere Artepe Enterprises in early December 2011, and the changes to the Management structure, the Board of LAE has been meeting weekly to ensure that:

  • It maintains a strong focus on effective management ;
  • Finances are managed effectively;
  • LAE companies continue to be successful and viable enterprises; and
  • A clear focus is maintained on operational discipline thus ensuring a robust future for LAE.

The Board is now transitioning from its entrepreneurial phase which occurred while LAE was establishing its economic arm, to a more stable organisational phase where a different management approach is needed as the business grows and activities are consolidated.

In response to the need to address significant business challenges, in particular the slippage in timing of completion of the Mt Johns Stage 1 Project, the Board of Lhere Artepe Enterprises has spent the major part of the last 6 weeks ensuring that Mt John Subdivision is again on track and to this end the issue of land titles are now imminent – Part five was issued on the 23rd of December 2011.

This is has been achieved because the Board has actively engaged with key stakeholders and regulators all of whom have indicated that the change in management structures has assisted in rebuilding confidence that LAE will achieve its objectives. Key stakeholders and regulators are clearly indicating their commitment to ensuring the speedy completion and success of the Mt Johns development.

The LAE Supermarket Board is also meeting regularly with the General Manger of the Supermarkets, Peter McGannon, and over the next two months will make significant changes to the financial management and overall operations of this enterprise.

The General Manager of the Supermarkets is working tirelessly to ensure that the continued viability of the LAE supermarkets and the Board is confident that this enterprise will continue to be a successful and profitable business for LAE. Peter brings significant business experience to LAE, having a proven track record in improving the performance of regional supermarkets.

In taking greater control over the management of LAE Enterprises, the Board is confident that having a strong focus on regaining operational discipline will ensure a robust future for LAE.

The Board would like to take this opportunity to thank all those stakeholders who have assisted and provided support over the last few weeks to bring LAE into a stronger position and have shown confidence that LAE can manage it enterprises in an efficient and professional manner.

Key LAE position holders are:

  • Patricia Miller, Chair
  • Andrew Ross, Director
  • Christine Charles, Director
  • Peter Holden, Director
  • Sally McMartin, Business Manager
  • Peter McGannon, Supermarkets General Manager

LAE Contact, Sally McMartin, Sally McMartin, email: sallymcmartin@esc.net.au

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