Sthree Plc (STHR.L) announced that Russell Clements, chief executive officer, or CEO, is to retire from the Board at the conclusion of its next Annual General Meeting in April 2013 after more than twenty six years with the Group.
Clements will be succeeded as CEO by Gary Elden, currently SThree Group chief strategy officer. Clements will effect a progressive transition of his responsibilities to Elden over the next eleven months to ensure an orderly handover.
Elden joined SThree board in 2008 and has over twenty two years' service with the Group. He is appointed as deputy CEO with immediate effect.
According to Sthree, Clements' retirement is part of a managed succession process, which will also see the appointment to the Group Board of Steve Quinn, currently Group managing director Benelux & Middle East, who will join the Board as chief operating officer, and Justin Hughes, who will retain his responsibilities as Group managing director Asia Pacific in a new Board-level role, reflecting the strategic significance of this region. Both appointments will be made with effect from June 1, 2012.
The company further stated that it continues to trade in line with expectations.
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