Automotive supplier loses second chief executive in 14 months

Autins Group

Automotive supplier Autins Group has been rocked by the loss of its second chief executive in 14 months.

The Rugby-based group, which designs, manufactures and supplies acoustic and thermal insulation, announced in a statement to the markets that Michael Jennings had handed in his resignation.

Mr Jennings was thrust into the hot-seat in March last year following the sudden departure of former chief executive and the architect of the business, Jim Griffin.

Mr Jennings has informed the board that he has been approached by the new private equity owners of Hydro International to re-join the company as its chief executive, having previously held this position prior to joining Autins.

He will continue in his role during his notice period, which could run to 12 months, so that a successor can be found and a smooth handover can take place.

The board said it had begun the process of recruiting his successor.

Adam Attwood, non-executive chairman, Autins Group, said: “During his tenure as chief executive, Michael has significantly improved the organisation, processes and detailed plans that are required to deliver the future growth from market penetration and customer diversification which underpins and remains the company’s strategic objective.”

The company will announce its interim results for the six months ending March 31, 2018 in June.