LONDON (dpa-AFX) - RS Group plc (RS1.L), a distributor of industrial and electronics products, Friday announced that Lindsley Ruth has agreed with the Board to step down as Chief Executive Officer with immediate effect, due to personal reasons.
Ruth, who led RS Group for over seven years, will be available to the Board, if required over the next twelve months, equal to the length of his notice period.
David Egan, Chief Financial Officer, will continue to lead the Group as Acting CEO until a process to find a permanent CEO has concluded.
Rona Fairhead, Chair, said, 'Lindsley has led the turnaround of an underperforming business and, working with the wider team, has created a strong vision and purpose for our company. RS Group is now a confident organisation full of talented people, aligned behind a clear strategy focused on delivering profitable growth and market share gains.'
RS Group plans to publish its trading statement for the three months ending December 31 on January 10.
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