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(Sharecast News) - Homewares manufacturer Portmeirion Group revealed on Monday that its chief executive Larence Bryan had decided to retire from the role after almost 25 years.
Effective immediately, Bryan will be replaced by chief finance director Mike Raybould, who has worked closely with all parts of the business for the last two and a half years.
The AIM-listed group referred to Raybould as "an excellent successor to Lawrence" as it looks to continue on its path of growth and evolution into a diversified homewares company.
Bryan will stay on with the firm as a non-executive director, while group financial controller David Sproston will take over from Raybould.
Portmeirion said its "depth of talent and focus on succession planning" will enable its executive team to continue to move forward "with vigour", driving its strategy of growth of its "world-class consumer brands".
Bryan said: "I leave in place a very strong team of senior management in whom I have supreme confidence.
"The group is now a well-diversified company with a bright future and I look forward to seeing it grow under the extremely capable and energetic guidance of Mike Raybould."
In terms of trading, Portmeirion said it was in the early stages of its critical seasonal trading period and had been pleased to see that demand for key seasonal lines, including Spode Christmas Tree, was in line with expectations.
As of 0830 BST, Portmeirion shares had dipped 1.49% to 862p.
6 Aug 2015 07:39