Agriculture and engineering group begins search for new chief executive
Carr’s Group, the Cumbrian agricultural and engineering concern, is looking for a new chief executive.
Tim Davies announced this morning that he has decided to step down as CEO after seven years in the role.
The board said it has already instigated a rigorous process to select a suitable successor for the role and to lead the group in the coming years.
Tim will remain in post until a successor is appointed and for a handover period to ensure a smooth transition.
Chairman, Peter Page, said: “On behalf of the board, I would like to thank Tim for his enormous contribution over the last seven years.
“He has led the group with passion and integrity, developing its international focus and a strong organisational culture.
“I look forward to continuing to work closely with Tim during the succession phase.”
Tim Davies said: “It has been a privilege to serve as CEO of Carr’s over the last seven years and I am proud of the achievements of my colleagues and the group during that time.
“I firmly believe that now is the right time for a new CEO to lead the group, building upon its strong position, and to develop its strategy into the future.”
In a trading update for the 19 weeks to July 11, last month, the group said it had decided to pay an interim dividend due to its continued strong trading position.
The group said overall, trading had remained in line with the board’s expectations for the current financial year.
This gave the board confidence to pay the deferred interim dividend for the 26 weeks ended February 29, in conjunction with what would ordinarily be the second interim dividend, in October 2020.
A single interim dividend of 2.25p per share will be paid on October 2, 2020.
That compares with 2.25p the previous year, which comprised a first interim dividend of 1.125p paid on May 31, 2019, and a second interim dividend of 1.125p per paid on October 4, 2019.
