Manufacturing boss leaves after six months

BRAMMER’S UK head, Steve Ashmore, has left the business just six months after he joined the industrial products group as its UK and Ireland managing director.

In a short statement to the stock market, the tooling company confirmed he had stepped down from the board “with immediate effect”.

Mr Ashmore joined in April having spent six years as managing director of Wolseley UK in an 11-year stint with the group, which followed 11 years with logistics provider Exel.

At the time of his appointment, Brammer’s group chief executive Ian Fraser said he “is a proven business leader and his track record on improvement of business performance is impressive”.

Mr Ashmore will be replaced by Brammer’s current regional managing director in Spain, Neil Rogers, who has worked for the group for 24 years. Mr Rogers is not being appointed to the board.

Brammer has endured a tough 12 months, with its share price now trading at arounnd one-third of its value a year ago. It closed last night at 87p, which values the company at £110m.