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(Sharecast News) - Judges Scientific announced on Wednesday that chief operating officer Mark Lavelle would step down from the board at its annual general meeting on 22 May, ahead of his planned retirement by September next year.
The AIM-traded firm said Lavelle, who would be 68 at retirement, would not stand for re-election but would remain with the group to support operational and strategic initiatives.
As part of the transition, Lavelle would relinquish his direct responsibilities over individual subsidiaries, shifting his focus to supporting group-wide improvements in operations, analytics, talent development and international expansion.
He would continue to play a key role in the group's leadership as a member of a newly-formed executive committee.
The company said the executive committee would report to the board and take responsibility for the management of the group.
It would comprise the executive directors and other senior leaders as required.
Judges said the new structure was intended to enhance coordination and execution across its portfolio of scientific instrument businesses.
"Mark has had an enormous influence on the development and success of the group's excellent portfolio of businesses and I, on behalf of the entire board, thank him for his decisive contribution over much of the last decade," said chief executive officer David Cicurel.
"We are delighted that he will continue to contribute to the ongoing performance of the group's businesses and their growth trajectory via our newly constituted executive committee."
At 1021 BST, shares in Judges Scientific were down 0.89% at 6,680p.
Reporting by Josh White for Sharecast.com.
