14th Feb 2023 10:20
(Alliance News) - Norcros PLC on Tuesday said Non-Executive Chair Gary Kennedy has died.
"The board of directors on behalf of the entire group expresses its sincere condolences to Gary's family and many friends," the Cheshire-based kitchen & bathroom products supplier said.
On January 24, Norcros had said that Kennedy would take temporary leave of absence on health grounds. It promoted Senior Independent Director David McKeith to acting chair.
On Tuesday, the company said that McKeith will continue in that role.
Also in January, Norcros said Chief Executive Officer Nick Kelsall plans to retire after 30 years with the company. He will step down on March 31.
At the same time, Norcros said it would promote UK Business Director Thomas Willcocks to be the new CEO, starting from April 1. Willcocks has been member of the executive team at Norcros as business director UK with operational responsibility for the group's UK business segment since August 2021. Prior to this, he was the managing director of Norcros South Africa.
Outgoing CEO Kelsall was promoted to the post in April 2011. Prior, he had been as chief financial officer since October 1996, having joined the firm in 1993. He will remain an employee for twelve months from the end of January to ensure a smooth handover.
Shares in Norcros were up 0.4% at 211.40 pence each in London on Tuesday morning.
By Sophie Rose, Alliance News reporter
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