Grafton Group Chief Executive Officer Gavin Slark has announced that he intends to step down as Chief Executive Officer at the end of this year, after 11 years in the role.
A process to appoint his successor is starting immediately.
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.”
Michael Roney, Chair of Grafton added: “Gavin has made an outstanding contribution to Grafton and provided exceptional leadership over the past eleven years. Under his stewardship the Group has further extended its geographic footprint and has been transformed into a portfolio of higher quality and higher returning businesses with excellent market positions and strong growth prospects.
“Supported by exceptional management teams, Gavin has overseen the development of a best-in-class business of scale in the Netherlands and entry into the Nordic region with the acquisition of a new growth platform in Finland. He also progressed initiatives to grow the market positions of our established businesses in the UK and Ireland both organically and by acquisition, in what is now a more digitally enabled environment with an increased focus on sustainability opportunities.
“More recently he successfully led Grafton through the pandemic and the divestment of the traditional merchanting business in Great Britain to leave the Group in an exceptionally strong position, both strategically and financially.
“On behalf of the Board, I would like to thank Gavin and extend our best wishes for the future.”
The Group will announce its scheduled update on trading for the half year to 30 June 2022 on 12 July 2022.