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Market Cap: £7.05m

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API Group non-executive chairman to step down next month

Thu, 18th Sep 2014 08:50

Foil and laminated products manufacturer API Group has announced its non-executive chairman, Richard Wright, will step down from the board from 31 October.Wright, who has served as member of the board since 2001 and has almost completed his ninth year as chairman of the group, will be replaced by chief executive Andrew Turner on an interim basis until a permanent appointment is made."API has benefited hugely from Richard's contribution and from the continuity of leadership which his tenure has afforded the management team," said Turner."After a distinguished period of service, Richard's willingness to step aside to facilitate the overhaul of the board is emblematic of his commitment to shareholder interests and the future success of the group."