Premier’s FD to step down

Premier’s chief executive Harriet Green said: “Mark joined Premier Farnell in 2006 and has played an important part in the successful first phase of our strategic transformation. We thank him for his contribution and wish him well in the future.”

The Leeds-based company said it has initiated a search for a successor to ensure a smooth and effective transition of responsibilities before Mr Whiteling departs in August.

It added that a further announcement, including the effective date of change, will be made in due course.

Premier is also on the hunt for a new chairman after Sir Peter Gershon announced last month that he plans to stand down at its annual shareholder meeting in June.

Sir Peter joined Premier’s board in 2004 and became chairman in 2005. The group said he has indicated that he does not intend to stand for re-election at its AGM.

Premier is continuing to intensify its focus on internet sales with the announcement last month that it was selling a wire and cable distribution subsidiary for £26m.

Premier, which distributes thousands of components ranging from microchips to batteries, has completed the sale of TPC Wire & Cable Corp to TPC Intermediate Holdings, a venture capital-backed vehicle owned by Pfingsten Partners LLC.

Premier has increasingly been focusing on internet sales, in particular the high-spending electronic design engineer community.