Marshalls appoints new CEO

It follows the announcement in April that the current CEO Graham Holden, plans to retire.

In a statement, Huddersfield-based Marshalls said: “Following a rigorous selection process, Marshalls is pleased to announce the appointment of Martyn Coffey as chief executive designate of the company, with effect from September 9 2013.

“After a month of intensive induction he will be appointed chief executive and take over operational responsibility from Graham Holden on October 10 2013, when Graham will retire as chief executive and as a director of Marshalls. Graham will continue to be employed until April 2014 to be available to provide a first class handover and any support required.”

Mr Coffey joins Marshalls from BDR Thermea Group BV, a manufacturer and distributor of domestic and industrial heating and hot water systems, which operates in 70 countries and has a turnover of €1.8bn. The Netherlands based group was formed in 2009 from the merger of Baxi and De Dietrich Remeha.

At BDR Thermea, Mr Coffey was a divisional chief executive officer and member of the management board. He also held group responsibility for sales and marketing, and purchasing, and achieved substantial synergies and savings following the 2009 merger.

Mr Coffey joined Baxi UK & Ireland in 2005 as chief executive and was appointed chief executive of Baxi Group in 2008.

Baxi Group, with a turnover of £1.2bn, was the third largest supplier of space and water heating products in Europe.

Before joining Baxi, Mr Coffey worked for Pirelli from 1991 to 2005, in the UK, Australia and North America, most recently as managing director and a member of the UK board.

Andrew Allner, chairman of Marshalls, said: “The board is extremely pleased to have recruited Martyn as Marshalls’ next chief executive. He has an outstanding track record as a proven chief executive in growing businesses and brings significant international experience.

“He joins a team at Marshalls with a very good understanding of the UK market, and a board with substantial City and investor understanding.”

Mr Coffey said: “I am delighted to be joining Marshalls with its outstanding reputation for integrity and product excellence.

“The company is well positioned as the market leader in its field and has significant potential for growth in the UK, as well as internationally.

“I look forward to working with Marshalls’ strong executive team to realise that potential for all its stakeholders.”