Volex Group PLC 08 May 2006 8 May 2006 Volex Group Plc Board Changes The Board of Volex Group plc, today announces that Richard Arkle has been appointed as non-executive Chairman of the Company and Heejae Chae, formerly Chief Operations Officer, has been appointed Group Chief Executive. Martin May resigns as Executive Chairman and steps down from the Board. Richard Arkle, aged 56, joined the Board in April 2005 as a non-executive Director. He is also currently Chairman of the Audit Committee and a member of the Nominations and Remuneration Committees. Richard was previously a partner at KPMG LLP from 1982 to 2004. Heejae Chae, aged 37, joined the Board in June 2005. He has held senior positions in the industry and prior to joining the Volex Group he was Worldwide General Manager of the Radio Frequency Group of Amphenol. Dimitri Goulandris, aged 39, has also been appointed a non-executive director of the Board. Dimitri is a director of Cycladic Capital Management Limited, which is a major shareholder of Volex. In accordance with paragraph 9.6.13(1) of the Listing Rules, it is announced that Dimitri is a current director of P ermasteelisa SpA, Forthnet SA and Azkoyen SA, being public companies in Italy, Greece and Spain respectively. Derek Walter, aged 58, has tendered his resignation as a Director but will remain with the Group until a new Finance Director has been appointed and an orderly handover period has been completed. This will meet the requirements of the next stage of the Group's development. Volex Group plc will be announcing its preliminary results for the year ended 2nd April 2006 on 14th June 2OO6. The results are expected be in line with the current market consensus. Richard Arkle, commented: "The Board were very grateful to Martin for stepping into the position of Executive Chairman last November and I would like to thank both Martin and Derek for their contributions to the business and wish them well for the future. Having performed well as Chief Operations Officer, the Board has every confidence that Heejae will continue to lead the improvement of the business as Group Chief Executive." Heejae Chae commented: "I am delighted to accept the position of Group Chief Executive of Volex. Since joining the business in 2005 as Chief Operations Officer I have been impressed with the way the business has been turned around and I look forward to taking Volex into its next stage of development." For further information please contact: Volex Group plc Tel: 01925 830 101 Richard Arkle, Chairman Heejae Chae, Chief Executive Weber Shandwick Square Mile Tel: 020 7067 0700 Chris Lynch / Nick Dibden This information is provided by RNS The company news service from the London Stock Exchange