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Director Appointments

Premier Farnell decides to change its CEO

14 August 2015 12:19

Premier Farnell, a company involved in the high service distribution of technology products and solutions, has announced that Laurence Bain has stepped down as chief executive officer with immediate effect.

Mark Whiteling has been appointed interim chief executive officer. He was previously chief financial officer (CFO) of the Group.

His CFO responsibilities have been transferred to a team led by Steven Webb, general counsel and company secretary.

Val Gooding, chairman of Premier Farnell, said: "Laurence has been a director of the company since 2003 and chief executive for the last three years.

"During his time as CEO Laurence has led the company's transformation to a web-based business, developed a global operating model and management structure, and introduced an innovative and differentiating strategy.

"However, whilst these initiatives provide a solid platform for the future, the company's recent results have been disappointing and the Board has concluded that the time is right for a change of leadership."

At 12:19pm: (LON:PFL) Premier Farnell PLC share price was +2.2p at 136.7p

Story provided by StockMarketWire.com

Related Company: PFL

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