WINNIPEG, April 11 /CNW/ - Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote") announced today the appointment of Douglas Pollard as Co-Chief Executive Officer of Pollard Banknote and the appointment of Gordon Pollard as Executive Chairman of the Board of Directors effective as of May 1, 2011.

Doug Pollard joined Pollard Banknote in 1997 as Vice President, Lottery Management Services and has been a member of the Board of Directors since 2002.  As Vice President, Lottery Management Services, Doug was responsible for the Company's corporate development activities and oversaw Pollard Banknote's various strategic initiatives.  Doug has an M.B.A. from The Richard Ivey School of Business at the University of Western Ontario and a B.A. from the University of Manitoba.

In early 2010, under the direction of Doug Pollard, Pollard Banknote formally launched its change initiative program; a framework through which Pollard Banknote will make certain operational, marketing and financial changes to better enable the Company to meet its key objectives, generate improved profitability and strengthen its balance sheet.

Commenting on the appointment, Gordon Pollard said, "Doug has been instrumental in the development of Pollard Banknote's change initiative program and he is well-suited to lead the company through this multi-year undertaking.  The transition of additional responsibilities to Doug at this time will better enable him to implement those changes, execute on strategic initiatives and explore new opportunities. We look forward to Doug's expanded role in driving the necessary changes to ensure our Company's future success.  As for myself, I look forward to focusing my energies on my board duties and spear-heading some of the Company's strategic priorities and special projects."

Gordon Pollard, who has served as Co-Chief Executive Officer with John Pollard since 1997, joined Pollard Banknote in 1989 as Vice President, Marketing.  In his more than 22 years at the Company, Gordon has been directly involved in Pollard Banknote's growth and evolution from a privately-held family business to a publicly-traded income fund and, most recently, to a publicly-traded corporation.  In his new role as Executive Chairman of the Board of Directors, Gordon will remain actively involved in the management of the Company and will focus his time and attention on the various strategic initiatives currently underway at Pollard Banknote.

Lawrence Pollard, Chairman of the Board of Directors, commented, "Each of John, Gordon and Doug has spent the majority of their professional careers at Pollard Banknote.  They have learned every aspect of the business and have each moved through a succession of increasingly responsible executive positions.  The transfer of responsibilities from Gordon to Doug at this time represents an orderly and timely transition within the Company's executive management team. Pollard Banknote will benefit from Doug's detailed knowledge of the operations, his dedicated leadership and his business acumen while continuing to benefit from Gordon's operational experience, strategic focus and informed counsel.  I am pleased by their continued commitment to our Company and have every confidence in their collective abilities to take on the challenges that lay ahead."

Effective as of May 1, 2011 Lawrence Pollard will move into the newly created position of Chairman, Emeritus in recognition of his 64 years of service at Pollard Banknote.  John Pollard will retain his responsibilities as Co-Chief Executive Officer of the Company.

About Pollard Banknote Limited
Pollard Banknote is one of the world's leading full-service lottery vendors and is a major supplier to North America's charitable gaming industry. The company manufactures instant tickets and provides related programming, design, and marketing support. As well, Pollard Banknote manufactures pull tab tickets and bingo paper, and supplies lottery management services (including warehousing and distribution). Established in 1907, Pollard Banknote is owned approximately 73.5% by the Pollard family and 26.5% by public shareholders and currently serves more than 50 lotteries worldwide, including some of the largest and most respected lotteries in the United States, Canada, Europe, Asia, and Central and South America.

Forward-looking Statements
Certain statements in this press release may constitute "forward-looking" statements and information which involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. When used in this document, such statements include such words as "may," "will," "expect," "believe," "plan," and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this document. There should not be an expectation that such information will in all circumstances be updated, supplemented, or revised whether as a result of new information, changing circumstances, future events, or otherwise.

SOURCE Pollard Banknote Limited

For further information:

John Pollard (       Gordon Pollard (
Co-Chief Executive Officer  Co-Chief Executive Officer
Telephone: (204) 474-2323  Telephone: (204) 474-2323
Facsimile: (204) 453-1375  Facsimile: (204) 453-1375

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890