Tower Limited announced the appointment of Marcus Nagel as a non-executive director, effective 14 January 2019. Mr. Nagel was nominated by Bain Capital Credit LP (Bain Capital) to represent Bain Capital's stake in Tower (Bain Capital hold 19.99% of Tower's ordinary shares). His appointment is supported by the Tower Board, noting his position with Bain Capital as a Special Advisor, Mr. Nagel will not be considered an independent director and Tower's Board and Bain Capital have agreed and implemented necessary governance and confidentiality protocols to protect the interests of all shareholders. Mr. Nagel has significant insurance industry experience having performed senior leadership roles for Zurich in Europe both in life insurance and general insurance. As Mr. Nagel has been appointed to the Tower board to fill a casual vacancy, he will retire and be available for re-election at the upcoming Annual Shareholder Meeting scheduled for 19 February 2019, in accordance with the Company's constitution.