Graham Holden, chief executive of Marshalls Plc, is to retire from the group and seek a fresh challenge.
Holden has worked at Marshalls since 1986 and was appointed to the role of chief executive in 2004.
He told the Yorkshire Post “The business is in reasonable order, by this time next year we’d like to see growth in the market and on a positive trend. It’s time for someone else to pick up the reins. I've been chief executive for nearly 10 years. The hours and the pressure are significant and it’s appropriate for me to have a fresh challenge."
Although the announcement has only just been made it will be at least another year before fresh blood takes up the reins. In the meantime, headhunters have been appointed to find a new chief executive.
A changed landscape
Traditionally, Marshalls have tended to recruit from exiting staff. This time perhaps it is right to look outside?
There will be a number of challenges for the new chief executive.
Speaking specifically about the landscape material's market: we have seen significant changes in the last 3-5 years with new material supply companies springing up and expansion from others into what is fast becoming a crowded and ultra-competitive space.
One of Marshalls' competitors, Tobermore, is pushing hard to break into the UK market and signing up a sizeable number of paving installers already on the Marshalls Register.
All paving manufacturers who operate a paving scheme will have to fight hard for a smaller slice of the market.
On the announcement of his retirement, 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.
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