23rd May 2024 12:29
(Alliance News) - FW Thorpe PLC on Thursday said its Executive Chair & Joint Chief Executive Mike Allcock will move to a backseat role.
Mike Allcock will step down as executive chair and joint CEO of the Worcestershire-based lighting systems firm and take up the role of non-executive chair. The move is effective from July 1.
The position of CEO will be picked up by Craig Muncaster whilst retaining the role of financial director.
Muncaster has been joint CEO of FW Thorpe since 2017 and financial director since 2010.
"Having spent 40 years working at FW Thorpe PLC it's time to take things a little easier. Straight from school I've only ever had one employer, so all that I am I owe to them," Allcock said.
"We have spent the last few years building stronger management teams around the group subsidiary companies to support the transition to the current group board structure. I will continue to keep a watching brief on the technical and engineering aspects of the business whilst supporting the next generation of 'youngsters' to develop and flourish."
Shares in FW Thorpe were up 0.7% to 377.00 pence each in London on Thursday afternoon.
By Sophie Rose, Alliance News senior reporter
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