All change at GKN as chief executive and group FD both step down
The chief executive of West Midlands manufacturing group, GKN is to retire from the business at the end of the year, it has been announced.
In something of a senior management shake-up, the Redditch-based group has also announced the resignation of its Group Finance Director.
Chief executive Nigel Stein will step down from that role on December 31, and as a director of the business on March 14, 2018.
He will be succeeded by Kevin Cummings, currently Chief Executive Aerospace, with the appointment becoming effective from January 1, 2018.
Adam Walker, Group Finance Director since February 2014, is leaving to take up an opportunity outside of the engineering sector. He will step down from the board before the year end, following a full handover to his successor.
His replacement will be Jos Sclater, who joined GKN in late 2011 as General Counsel. He has undertaken a number of additional roles since that time including acting as Company Secretary from 2014 to 2016 and Director of Strategy and M&A from 2016. Earlier this year he also assumed responsibility for GKN’s additive manufacturing activities.
Mr Stein joined GKN in 1994 and became a board director in August 2001. During his 16 years on the board he held the roles of Group Finance Director and Chief Executive Automotive before being appointed Chief Executive from January 2012.
He said: “GKN has excellent market positions, outstanding technology and is well positioned to continue its global growth. I am delighted that Kevin has been appointed to succeed me.
“This company has a long history of success based on the efforts of our dedicated employees around the world. I thank them greatly for their contribution. I would also like to thank Adam for his support over the past three and a half years and offer Kevin, Jos and the whole GKN team my best wishes for the future.”
Kevin Cummings joined GKN Aerospace in North America in 2008. He stepped up to the role of Chief Executive Aerospace in January 2014 and was appointed to the board in January 2016. He has extensive experience of running a global business in GKN.
Mike Turner, GKN’s chairman, said: “On behalf of the board, I would like to thank Nigel for the significant contribution that he has made to GKN. During his tenure as chief executive, Nigel has overseen the transformation of the group, greatly expanding the Aerospace division and moving Driveline into electric drive.
“He has been instrumental in GKN’s substantial growth. I would like to extend my personal gratitude to Nigel and I’m sure I speak for everyone at GKN in wishing him every success for the future.
“Kevin was key to the successful acquisition of Fokker. His contribution since being appointed to the Board has been substantial and I am sure he will be an excellent successor to Nigel.”