Builders merchants Grafton revealed on Monday that chief executive Gavin Slark has opted to step down as chief executive officer after 11 years in the role.
Grafton said Slark will continue in his roles as CEO and board director until moving on from both on 31 December, in line with his service agreement.
The FTSE 250-listed group added that a process to appoint a successor will commence immediately, with the support of an executive search firm.
Slark said: “It has been a privilege to have been CEO of Grafton over the past eleven years. I have had the opportunity to work with exceptional people and I am very proud of what we have achieved on behalf of all our stakeholders.
“I have made the decision to leave with a heavy heart but am confident that this is the right time for a new CEO to lead the business as Grafton embarks on its next phase of growth and development. I remain very committed to the leadership of the business over the next six months and to working towards a smooth transition to my successor.”
Reporting by Iain Gilbert at Sharecast.com
