Marshalls plc, the specialist Landscape Products Group, announces that Graham Holden, Chief Executive, has informed the Board that he intends to retire as Chief Executive and a Director of the Company by April 2014. The Board's Nomination Committee has appointed head-hunters to assist it to identify and review both internal and external candidates and the process to find a suitable successor is under way.
Graham Holden joined Marshalls in 1986 and was appointed Chief Executive in 2004. Andrew Allner, Chairman said:
"Graham has worked tirelessly for Marshalls for 26 years, the last nine of which he has been Chief Executive. On behalf of the Board and all of Marshalls' staff I would like to thank him for his leadership and stewardship at a time of significant change in our industry. On retirement Graham will leave Marshalls as a strong brand with market leading positions and a reputation for quality and integrity. By advising the Board of his decision well in advance of retirement Graham has facilitated the planning and management of his succession in an orderly and timely manner."
Graham Holden said: "Marshalls is in good shape with an experienced Executive Team. I have been Chief Executive for over nine years, and with the Group for 26 years. I am proud of what the business has achieved in that time and believe Marshalls is very well positioned for future growth and success. Having taken significant action to adapt the business we are clearly focused on delivering our growth initiatives. For now it is business as usual but in the next 12 months I shall hand over to a successor who will lead Marshalls in the next stage of its development."
The Board confirms that Marshalls is trading in line with current market expectations and will issue an Interim Management Statement, as planned, on the date of the AGM, 15 May 2013.