Directorate Change

RNS Number : 8980W

Electrocomponents PLC

13 November 2014

 



ELECTROCOMPONENTS PLC

Ian Mason to step down as CEO of Electrocomponents plc

After 20 years with the Company, the last 13 as CEO, Ian Mason is to step down as Chief Executive at the end of the financial year.

In 2012, Ian announced a changed global organisation to support the development of a new and more ambitious strategy for the Company, aimed at increasing market share and sales growth rates. To drive delivery of this strategy a detailed 5 year Plan was established and is being implemented. 

A while ago, Ian informed the Board that he would wish to step down once this strategy was firmly embedded. We have together concluded that this is now the case and that the focus going forward is on continued effective implementation and execution of the strategy.

A search process has been initiated and will evaluate internal and external candidates.

Ian Mason commented: "It has been a privilege to lead Electrocomponents for the last thirteen years. The business has been transformed into a truly international group, with a strong and experienced management team and a clear strategy. With the Group's 5 year strategy successfully underway it is the right time for me to pass the baton. I will continue to serve the Company until the end of March to help ensure a smooth succession."

Peter Johnson, Chairman of Electrocomponents, commented: "On behalf of the Board, I would like to thank Ian for his fine stewardship of the Company over 13 years and especially for leading the development of the new business strategy. The Board wishes him all success in the future."

Enquiries:

David Allchurch / Martin Robinson

Tulchan Communications

020 7353 4200

 

END

 

 

BOAVLLFFZFFXFBF