Long-running Luceco CEO to retire this year, shares tank

(Sharecast News) - Shares in Luceco dropped on Monday after the electrical products maker announced the retirement of its long-running chief executive. The company, which makes wiring accessories, EV chargers, LED lighting and portable power products said that John Hornby has decided to retire at the end of 2026 after 21 years of leading the business.

Hornby will be taking a sabbatical until late August and will remain CEO and board director until 31 December, then stay on in an advisory capacity thereafter.

During Hornby's sabbatical, Luceco's senior leadership team will carve up and redistribute his responsibilities, while the search for a permanent successor has already begun.

"On behalf of the board, I would like to thank John for his longstanding contribution to Luceco," said chair Giles Brand in a statement.

"He has been an important part of Luceco's development, expanding the group significantly into the successful business it is today, with a proven platform for growth. The board and Luceco colleagues wish John the very best for the future."

The company also announced that second-quarter trading has been consistent since its last update in May, as it reiterated guidance for adjusted operating profits of over £40m this year, up from £33.8m in 2025.

Luceco shares were down 10% at 261p by 1000 BST.

See the latest RNS on Investegate.