2nd Apr 2020 09:00
(Alliance News) - Infrastructure products firm Hill & Smith Holdings PLC on Thursday announced the departure of long-standing Chief Executive Derek Muir.
Muir will be leaving at the end of 2020, having been CEO since 2006. He originally joined in 1988.
Replacing him, Solihull-headquartered Hill & Smith has chosen Paul Simmons, who will join the board on September 1 as CEO-designate. Simmons is currently head of the Safety Sector business at FTSE 100 safety products maker Halma PLC.
Simmons will leave Amersham-based Halma at the end of July, replaced on an interim basis as head of Safety Sector by Executive Director Adam Meyers. Meyers's planned retirement in July will now be postponed.
In its own statement on Thursday, Halma Chief Executive Andrew Williams said: "Adam's considerable experience and deep knowledge of Halma provides us with stability and continuity which will be valuable as we manage our businesses through the Covid-19 pandemic."
Commenting on the CEO change, Hill & Smith Chair Alan Giddins said: "I am delighted we have been able to attract someone of Paul's calibre to succeed Derek. His time at Halma has given him experience of strategic thinking, operating with a clear sector focus and in a decentralised business model with organic growth enhanced through strategic acquisitions. This experience and outlook makes him uniquely well-positioned to take on the CEO role at Hill & Smith.
"The board has thought very carefully about succession and ensuring an effective hand over of responsibilities. By having Derek continue to lead the group through the current period of market turbulence while allowing Paul the time to be immersed in the business and take responsibility for the 2021 budget process, I am confident we will achieve this."
Hill & Smith shares were 0.2% lower on Thursday morning in London at 947.96 pence each, and Halma was down 1.8% at 1,830.00p.
By George Collard; [email protected]
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