Bing Lee announces new business structure

Following the death of Bing Lee Chairman and co-founder, Ken Lee, Bing Lee today announced the following business structure, effective immediately.

Ken’s eldest son, Lionel Lee assumes the role of Chief Executive Officer. Lionel has spent the majority of his working life within the company, reporting directly to his father.

Phil Moujaes, now eight years with Bing Lee, continues in the role of General Manager. Aubrey Reisen, Chief Financial Officer and Company Secretary will report directly to Lionel Lee and Phil Moujaes. Aubrey has been associated with Bing Lee for 23 years and has been in his role as Bing Lee Chief Financial Officer for five years.

The balance of the existing management team remains in place;

Joanna Ingley – Group Marketing Manager
Peter Braithwaite – Operations Manager
Ben Nursoo – Franchise and Property Manager

Effectively, Bing Lee will continue as a privately held family company with Lionel Lee replacing his father as Chief Executive Officer. All other senior management positions remain identical to the team that has driven Bing Lee’s success over recent years.

Bing Lee celebrated its 50th anniversary in 2007 highlighting the company’s longevity in a competitive market place. The number of stores recently reached 35 and continues to grow, underlining that Bing lee has established itself as one of the most iconic businesses in NSW and the ACT.

Sales in 2007 also topped a record high by coming close to 400 million (excluding GST), and through improvements to existing operations and further store acquisitions Bing Lee is positioned to improve its performance and increase sales in 2008.

Lionel Lee Chief Executive Officer	Phil Moujaes General Manager	Aubrey Reisen CFO