27th Sep 2013 08:05
LONDON (Alliance News) - IMI PLC Friday appointed Mark Selway as its Chief Executive from the start of 2014 after Martin Lamb, who has been at the helm for nearly 13 years, said he would step down at the end of the year and retire from the company's board at its next annual general meeting.
Selway was previously Chief Executive of Boral Ltd and prior to that CEO of Weir Group between 2001 and 2009.
"He will join IMI and the IMI Board on October 1, 2013 as chief executive designate and will work alongside Martin until the end of 2013 to ensure a smooth transition of the CEO role," the engineering company said in a statement.
It said it had conducted a comprehensive search for its new CEO.
IMI shares were up 0.6% at 1,462 pence early Friday, one of the biggest gains on the FTSE 100.
By Steve McGrath; [email protected]; @SteveMcGrath1
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