Steel group non-executive director and former CEO steps down

Listed steel group Billington has announced that Stephen Fareham has resigned from his position as non-executive director with immediate effect.

Fareham has been a non-executive director since 2014.  He has been associated with Barnsley-based Billington Group for over 50 years, having formerly served as chief executive until his retirement from full time employment.

Peter Hems, outgoing non-executive chairman of Billington, said: “It has become evident that, following the recently announced Board changes, and in order to comply with corporate governance best practice, it will be necessary for Billington to introduce some additional financial expertise to the Non-Executive Director team. Therefore, Steve has decided that it was the right time to stand down, thereby enabling the Company to commence the search for a replacement with the relevant financial expertise. With the recent addition of Ian Lawson to the Board, Billington already has a good strength and depth of industry experience at the necessary level.

“I would like to take this opportunity to personally thank Steve for his many years of service and for his invaluable support.”

Mark Smith, chief executive of Billington, added: “The retirement of Steve brings the end of an era for the Billington Group. The Company and I personally owe him a great deal of thanks for his hard work, dedication and diligence over his tenure in office. We wish Steve a very long and happy retirement.”

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