DWS Limited confirmed that it will be conducting a restructure of its Board and Executive Management Group, effective from 28 February 2014. Mr. Harvey Parker will retire from the Board after serving seven and half years as the company's Chairman. Over the next few months, Parker will formally transition into the role of Non-executive Chairman and will assume full responsibility for this role upon Mr. Parker's retirement from the Board at the end of February 2014.

Pursuant to Corporate Governance best practice, existing the company Non-executive Director, Mr. Ken Barry, will act as lead Independent Director. Mr. Barry has also been a key member of the company since the company's listing. Mr. Lachlan Armstrong has accepted the Board's nomination to take over Chief Executive and Managing Director when Chief Executive and Managing Director vacate the position in February 2014.

Lachlan joined DWS in early 2005 as National Commercial Manager. He led the team that listed DWS on ASX in 2006, and later transitioned into his current role of Chief Financial Officer (CFO) and company Secretary.