Holden to step down at Marshalls

Marshalls today announced that Graham Holden has informed the board that he intends to retire as chief executive and a director of the company by April 2014.

The board’s nomination committee has appointed head-hunters to help it identify and review both internal and external candidates, and the process to find a successor is under way.

Mr Holden joined Huddersfield-based Marshalls in 1986, and was appointed chief executive in 2004.

Andrew Allner, the company’s chairman said: “Graham has worked tirelessly for Marshalls for 26 years, the last nine of which he has been chief executive. On behalf of the board and all of Marshalls’ staff I would like to thank him for his leadership and stewardship at a time of significant change in our industry.

“On retirement Graham will leave Marshalls as a strong brand with market leading positions and a reputation for quality and integrity. By advising the board of his decision well in advance of retirement Graham has facilitated the planning and management of his succession in an orderly and timely manner.”

Mr Holden said: “Marshalls is in good shape with an experienced executive team. I have been chief executive for over nine years, and with the group for 26 years. I am proud of what the business has achieved in that time and believe Marshalls is very well positioned for future growth and success. Having taken significant action to adapt the business we are clearly focused on delivering our growth initiatives. For now it is business as usual, but in the next 12 months I shall hand over to a successor who will lead Marshalls in the next stage of its development.”

The board also confirmed that Marshalls is trading in line with current market expectations and will issue an interim management statement, as planned, on the date of the AGM, May 15 2013.