Joe Dwek to leave Worthington

NORTH West property investment company Worthington revealed a new top team today, which will trigger the departure of well-known Joe Dwek, its chairman and chief executive next month.

Mr Dwek, who is best known for his time at Bodycote – which he led from 1972 to 1998 – is also a board member at the North West Development Agency – will be replaced as chairman by Anthony Cooke

AIM-listed, Wilmslow-based Worthington has appointed former banker Peter Townsend, 48, as its chief executive. Mr Townsend is a director of a division of Regenesis Holdings, which holds a 14.1% stake in Worthington.

Mr Dwek, who was awarded a CBE in 1997 for services to industry, will step down on August 31 to allow for a period of transition for the incoming directors.

He said: “We are very pleased to welcome Anthony and Peter to the board. Their combined experience and business contacts, together with the support of Regenesis Holdings, will help prepare the company to seek suitable acquisition opportunities.”

Michael Edelson, the City investor well known for his work with small AIM companies, has stood down from Worthington’s board with immediate effect.
Finance director David Shalom is unaffected by the changes.