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SIG PLC on Thursday named Grafton Group PLC's Gavin Slark as its new chief executive, as Steve Francis plans to step down after three years.
Francis joined the Sheffield, England-based insulation, roofing, commercial interiors and construction products supplier in February 2020 as CEO.
SIG said that Francis will remain as CEO until Slark takes up the role on February 1 next year. He will also remain employed by the company until March 8, 2023, and has agreed to remain available as a consultant until the end of April next year.
Slark has been CEO of Grafton Group PLC for 11 years and will step down from his role at the Dublin-based building materials firm on December 31.
Prior to this, he held a number of roles with BSS Group PLC, including as CEO from 2006 to 2011.
Chair Andrew Allner said: ‘It is to his tremendous credit that Steve not only steadied the ship but went on to lead SIG out of turnaround and delivered a return to growth.
‘Gavin's proven track-record of delivering shareholder value in our industry made him the stand-out candidate to succeed Steve, and the Board is delighted that he will be joining us as CEO early next year,’ Allner added.
Shares in the company were up 3.7% to 32.50 pence each in London on Thursday morning.
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