22 June 2010

Codan Names Donald McGurk as Managing Director and Chief Executive Officer

Adelaide, South Australia and Paris, France - June 22, 2010.

Codan (ASX-CDA), today announced at the Eurosatory trade show (Stand #H50660) that it has named Donald McGurk as managing director and chief executive officer (CEO) over its worldwide businesses. Previously, McGurk served as a Codan executive for more than nine years, overseeing the business responsibility for the company’s high frequency (HF) radio products.

McGurk joined Codan in December 2000 with executive responsibility for group-wide manufacturing, a role that he held until last year. McGurk came to Codan with an extensive background in change management applied to manufacturing operations, and held senior manufacturing management positions in several industries.

“I am pleased to have Donald succeed me as CEO,” said Michael Heard, who retires as managing director and CEO in November 2010 after 19 years.

“Under Donald, Codan has developed its own highly efficient and responsive electronics manufacturing capability, and recently expanded capacity by creating a very successful outsourcing relationship with a manufacturing partner in Malaysia,” Heard added.

In addition to his manufacturing role, from 2005 to 2007 Mr. McGurk held executive responsibility for sales of all Codan communications products, and from 2007 to the present, executive responsibility for business performance of the company’s HF radio products. In his most current role he has led the penetration of HF products into important new market segments for Codan. Today the company has sales offices in six countries and 85% of revenue comes from exports to more than 150 countries.

McGurk obtained a masters degree in business administration from the University of Adelaide in 2005.

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