Headlam Group plc (HEAD.L) announced that Chris Payne, Group CEO and Executive Director, has stepped down from the Board with immediate effect. Stephen Bird, Non-Executive Chairman, will assume the role of interim Executive Chairman, while the Board runs a formal CEO succession process. Stephen Bird will return to his Non-Executive role once the new CEO is appointed. The Group said the Board is accelerating the execution of the turnaround strategy to restore profitability.
Stephen Bird, interim Executive Chairman, said: "The Board is taking decisive action to deliver the transformation our business needs."
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