Chairman of Forgemasters and industrial veteran steps down

The chairman of Sheffield Forgemasters International, Tony Pedder OBE, is retiring after 12 years in his role.

Industrial veteran and former Master Cutler Tony Pedder also has a multitude of positions across South Yorkshire organisations, including pro-chancellor and chairman of the council at the University of Sheffield and chairman of the Sheffield Teaching Hospitals NHS Foundation Trust.

He was the former chief executive of Corus plc, was a director at Metalysis and a director of the EEF as well as chairman of Albion Steel.

He has been in position at Sheffield Forgemasters since a management buyout in 2005.

Pedder has worked alongside chief executive Graham Honeyman on a two-year on a two year mission to turn the company around and back into profitability after the collapse of offshore oil and gas markets pushed the business into the red.

Tony Pedder, said: “I am very proud to have been part of the story that saw the company saved from liquidation by the management buyout. I think it is now time for me to let the next generation of leaders take the business forward.

“The past two years have been turbulent and I have worked hard alongside the board of directors to stabilise the business following the demise of the offshore oil and gas markets, which wiped out approximately 40% of our turnover.

“The team has done a great job in this respect and the company is now back around break-even well ahead of schedule, and with renewed backing from our bank, this seems a sensible point for me to step down.”

Dr Graham Honeyman, chief executive at Sheffield Forgemasters International Ltd, said: “I would personally like to thank Tony for the support he has given to me in taking this company in the right direction and preserving the jobs and futures of many people.

“Tony has helped to create a legacy which the whole country can be proud of and after two years of restructuring, we have secured healthy backing from our financiers and are in a strong position to take the business forward.

“We will be announcing the appointment of a new chairperson in due course.”

Sheffield Forgemasters appointed three new non executive directors, Jon Bolton, Janice Munday and David Duggins and a new chief finance officer, James Tate, within the past 12 months.

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