16th Jan 2019 09:11
LONDON (Alliance News) - Wilmington PLC said Wednesday Chief Executive Officer Pedro Ros will stand down from the publishing firm in mid-February, with Chair Martin Morgan taking on executive functions until a replacement is found.
Ros - boss since 2014 - will stand down on February 13, but will remain available over the "following months" to ensure and "smooth and orderly handover."
"During the last five years, Wilmington has completed a major transformation and I believe that now is the right time to hand over to my successor," Ros explained in a statement. "I am proud of our many achievements during that time and I thank our people and the board for their continuous support. I look forward to working with Martin to ensure a smooth transition."
Until a new CEO is appointed, Morgan will become executive chair.
"I would like to thank Pedro for his dedication and contribution to Wilmington over the last five years," Morgan explained. "Since joining Wilmington in 2014, Pedro has executed a significant change programme and focused on building our key market sectors in Risk & Compliance, Professional and Healthcare.
"During Pedro's tenure," Morgan added, "Wilmington has also begun the important process of modernising its infrastructure which includes the implementation of common technologies, especially in the areas of customer relationship management, digital learning and marketing."
"The company has many opportunities for renewed growth and, on behalf of the board and employees of Wilmington, we wish Pedro all the best in his future endeavours", Morgan concluded.
Shares in Wilmington were 2.6% lower at 184.15 pence on Wednesday. The firm will release its half year results on February 21.
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