7 Mar 2013

Wholly Bagels founder appointed as Savoy Equities CEO

7:02 am on 7 March 2013

The founder of Wholly Bagels has been appointed chief executive of Savoy Equities.

The oils and resins extraction firm says Charles Daily, who sold Wholly Bagels to a private equity firm in 2011, has the right sales and marketing skills to lead the company.

Mr Daily's remuneration package includes 6.3 million two year options to buy shares in Savoy at 2.5 cents each. He will also receive 9.6 million year options at the same price if he gets approval from shareholders.

He also bought 6.7 million shares at 1.5 cents each, that gives Savoy $100,500.

In the last three years, Savoy has focused on the herb Artemisia and the development of a product range using the extract Artemisinin for the treatment of arthritis, malaria and other conditions.