Building products firm names chief commercial officer as interim boss
Building products firm Marshalls has said its chief executive Matt Pullen has stepped down with immediate effect.
Pullen was made boss in March last year, having joined the firm two months earlier from plastic pipes manufacturer Genuit Group where he was chief operating officer.
In a statement to the Stock Exchange this morning, Marshalls, which is carying out a rejig of its business, said chief commercial officer Simon Bourne had been made interim CEO and that a search for Pullen’s replacement had begun.
In a note, broker Investec said: “It would appear that with Simon Bourne stepping up as interim CEO, and most likely the obvious candidate for the permanent CEO position, reporting lines will be shortened and there will be more emphasis on the execution of the strategy.”
Bourne has been with the business since 2015 and was appointed to the board three years ago as chief operating officer.
In a trading update, Marshalls said trading was in line with expectations with its 2025 results due out next March.
Revenue for the six months to June was up 4% to £320m but pre-tax profit was down a third to £18m.
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