LONDON (ShareCast) - (Sharecast News) - Agricultural supplies group Wynnstay revealed on Monday that longtime chairman Jim McCarthy would be stepping down from the role on 23 March.

After ten years, McCarthy will handover the job to non-executive director Steve Ellwood following Wynnstay's annual general meeting next month but will remain with the group until August in order to ensure a smooth transition.

The AIM-listed firm noted that it intends to appoint an additional non-executive director to replace Ellwood, with a recruitment process to identify suitable candidates having already begun.

Outgoing chairman Jim McCarthy said: "After 10 years on the Wynnstay board, I step down, confident about the group's growth prospects.

"I am delighted to handover to Steve. He is highly experienced, with significant knowledge of the sector as well as of Wynnstay. I have no doubt that he will help to drive the successful execution of the board's strategy."

As of 0825 GMT, Wynnstay shares were up 1.68% at 455.0p.

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