Move to pure play agri business prompts leadership change at Carr’s
Carlisle based Carr’s group has promoted the chief executive of its global agriculture business to be group CEO as a direct result of the transformation into a pure-play Agriculture business.
The listed group sold its engineering businesses to an American buyer earlier this year so group CEO David White will step down with effect from 30 June 2025, at which point Josh Hoopes, currently CEO Global Agriculture, will be appointed CEO for the business.
In announcing interim results to the stock market this morning he company said “lower seasonal trade across our markets which will moderate overall performance.”
It also said completion of the main Engineering disposal will enable further reductions in central costs.
The business made £7.6m in pre-tax profit on turnover of £50.6m.
David White, Chief Executive Officer of Carr’s Group said: “Today’s interim results clearly demonstrate the benefits of our strategic transformation to a specialist agriculture manufacturer. During the period the Group has achieved significant milestones through the sale of the bulk of the Engineering Division, the development of a clear and refocused Agriculture strategy, with substantial progress made in corporate simplification through pension de-risking, sale of excess properties and ongoing central cost reduction.
Tim Jones, Chairman of Carr’s Group said: “The Company’s transition into a pure-play specialist manufacturer of research proven, value-added livestock supplements is almost complete. I would like to thank David White for his role in expertly leading this transformation with clarity and pace. David’s help in assembling and enabling the team of agriculture specialists to take the Company forward and in strengthening and de-risking our balance sheet – as our Interim results illustrate – perfectly positions us for the next phase of our strategy. Under Josh Hoopes’ ongoing leadership we have every confidence in the delivery of that strategy and of the value that it can create.”
In November 2023 White stepped up to be chief executive from his chief financial officer role, succeeding Peter Page. White previously worked in international senior leadership, operations and finance roles at Aggreko plc.
