Polypipe prepares for new CEO
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Polypipe prepares for new CEO

Plastic pipe manufacturer Polypipe’s CEO, David Hall, is set to leave the company after 12 years at the helm. The group’s chief financial officer, Martin Payne, will step up to fill the position Hall leaves behind on 2 October this year. Payne, who has spent a year in his current position in the company, is widely seen as an “outstanding” choice to become the next CEO, and has filled executive positions at a number of companies previously.

Polypipe’s share price is up by almost 30% so far this year

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SOURCE: Yahoo Finance

The group’s chairman, Ron Marsh, said:

"David has played a pivotal role in building Polypipe into the successful business it is today and, on behalf of the board, I would like to thank him for his invaluable contribution to the business and wish him the very best for the future.

"The board conducted a thorough search for his successor, using third party advisers and including external candidates, and agreed that Martin was the outstanding choice.

"His leadership, financial and operational skills, together with his significant experience of public markets and manufacturing of building products, are a great asset to the company."

Payne, who will continue to oversee the finance function of the company until a suitable replacement can be found, and who will oversee Glen Sabin in the newly created role of chief operating officer, said:

“I am honoured and delighted to have been chosen to lead Polypipe through the next phase of its development. We have talented and committed people across the Group, and I am excited to be working with them to build on the success achieved over recent years.”

Disclosure

Dominion holds Polypipe in its Global Trends Managed Fund.

 

Plastic pipe manufacturer Polypipe’s CEO, David Hall, is set to leave the company after 12 years at the helm. The group’s chief financial officer, Martin Payne, will step up to fill the position Hall leaves behind on 2 October this year. Payne, who has spent a year in his current position in the company, is widely seen as an “outstanding” choice to become the next CEO, and has filled executive positions at a number of companies previously.


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