Melrose co-founder David Roper to leave, trading in line
By Iain Gilbert
Date: Thursday 09 May 2019
(Sharecast News) - Turnaround specialist Melrose Industries said on Thursday that long-standing executive David Roper plans to step down, as it reported an in-line performance for the first four months of its trading year.
After serving as chief executive for nine years, from the flotation of Melrose in 2003 to 2012, and since then as executive vice chairman, David Roper will step down and retire from the group on 31 May 2020.
He will be the first member of the founding trio - which includes chief executive Simon Peckham and fellow executive vice chairman Christopher Miller - to leave.
On an operational level, Melrose said good progress was made in delivering operational improvements in the four months ended 30 April, specifically in its efforts to increase profit margins at GKN's aerospace and auto businesses.
Chairman Justin Dowley said: "We have recently laid out our targets for GKN which are better than those we indicated only one year ago at the time of the acquisition, and which come on the back of a stronger performance than expected in the first year of ownership.
"We are delighted to keep investing in all our businesses, including Nortek and Brush, and look forward to another year of progress. The businesses we own have very valuable qualities and characteristics, and we look forward to maximising their potential."
Melrose will release its interim results on 5 September.
As of 0830 BST, Melrose shares were down 1.35% to 186.45p.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN