CEO at £400m manufacturer to stand down

David Hall, chief executive of Polypipe

The long-standing chief executive of £436.9m-turnover manufacturer Polypipe is to stand down.

David Hall, who has been with the business since 2005, is to retire. Chief financial officer Martin Payne will step into the role from October 2017.

Hall oversaw the listing of Polypipe, a manufacturer of plastic piping and ventilation systems based in Doncaster, on the London Stock Exchange in 2014, as well as several years of record performances.

Payne has held the CFO role since May 2016, and prior to that he was group finance director at Norcros. A search is underway to find his replacement.

The company has also appointed a chief operating officer, Glen Sabin, for the first time. Sabin has been a member of the executive committee since 2005.

He has 40 years’ experience in the construction sector starting as an engineer with George Wimpey and 22 years with Marshalls plc.

Ron Marsh, Chairman, said: “David has played a pivotal role in building Polypipe into the successful business it is today and, on behalf of the Board, I would like to thank him for his invaluable contribution to the business and wish him the very best for the future.”

David Hall, chief executive officer, said: “It has been a huge privilege to lead Polypipe over the past 12 years through both private ownership and a successful stock market listing in April 2014. I am extremely proud of the people within Polypipe and what they have achieved and am confident that shareholders can continue to rely on their capability and enthusiasm going forward.

“I am delighted that the Board has decided that Martin should succeed me as CEO and that Glen will join the board as COO. Together they have deep knowledge of the business and the industry, possessing the skills and expertise to drive the future development of Polypipe.”

Martin Payne, chief financial officer, said: “I am honoured and delighted to have been chosen to lead Polypipe through the next phase of its development. We have talented and committed people across the Group, and I am excited to be working with them to build on the success achieved over recent years.”

The news comes hot on the heels of a trading update which reported that revenues were up 6% for the four months to 30 April, to £157.8m.

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