Carclo's chief executive steps down

The Ossett-based firm said that now it has only two operating divisions, the role of group CEO is no longer required. It said that both of its divisions have a strong management team. The group said it has re-evaluated the management structure needed to take the business forward.

Mr Collins joined the business as chief restructuring officer in May 2019 to steer the group through a challenging period, including the exit from the Wipac business. He was appointed interim CEO from October 1 and led the group through the negotiations with the bank and pensions trustees, culminating in the successful completion of a tripartite agreement.

Carclo said that it would like to thank Mr Collins for his contribution to the business and it wishes him well for the future.

Nick Sanders will assume the role of executive chairman with immediate effect, with both the Technical Plastics and Aerospace divisions reporting directly to him.

The firm said this will shorten the reporting lines in the business and reduce costs.

Mr Sanders’ focus will be on enhancing shareholder value through improving the profitability of both operating divisions by driving both growth and operational effectiveness.

Carclo announced Mr Sanders’ appointment as non-executive chairman last week.

He was appointed as a non-executive director and chairman-elect of the board on August 18.

Joe Oatley, who was acting as chairman of the board from April 27, has stepped down from his role and will resume his role as a non-executive director. Mr Oatley has taken over the role of senior independent director from Peter Slabbert.