No Quarta for IMI as chairman steps down
BIRMINGHAM-based engineering group, IMI has announced that its chairman is to quit the business to take up a similar role with public relations group WPP.
Roberto Quarta said that following the identification of his successor and a suitable transition period it was now time to leave the business. He will assume the role of chairman at WPP from January 1.
He said: “I joined IMI back in 2011 and since then the group has adopted a new strategic growth plan, strengthened the board with new director appointments and recruited a new CEO from outside the company. IMI is now on a positive track to deliver sustainable accelerated top and bottom line growth.”
Mark Selway, IMI chief executive, added: “Roberto has been an excellent chairman and I have very much enjoyed working with him. Our focus now is to execute our growth strategy and achieve our ambition of doubling the group’s 2014 operating profits over the next five years.
“In the first six months of the strategic plan we have made good progress including investing in new products, disposing of non-core assets and securing our first acquisition. I look forward to working with the board and Roberto’s successor as we continue to make progress.”
The announcement comes ahead of the closure of its Witton-based IMI Components factory. The company announced earlier this year it was shutting the factory – with the loss of more than 100 jobs – because of the slowdown in the nuclear energy sector.
