Record PLC (LSE:REC) announced that Neil Record, who founded the company in 1983 and was chief executive until 2010, will now step down as non-executive chair following the company’s upcoming AGM, in July. The company’s succession planning sees the appointment of David Morrison as chair-elect.
“I remain very excited about the company's future, and plan to remain a major shareholder,” Neil Record said in a statement.
“Over my 40-year career at Record, I have worked with many very talented colleagues whom I will miss, but I am delighted to welcome David as my successor.”
“I have the highest confidence in David's ability and skills, and he brings a wealth of leadership and chair experience. I know that he will provide the Board with strong and effective leadership.
"I have every confidence that my Board colleagues will continue the path of sustained growth and successfully implement our core strategic priorities of diversification and modernisation. David will be a great support to our chief executive, Leslie Hill, who has been involved in the succession process and welcomes David's appointment."
Morrison, meanwhile, commented: "It is a privilege to be appointed Chair-elect of Record and an honour to succeed Neil.
“I am excited to be joining Record at such an important time for the business. I am looking forward to working with Leslie, her Executive team and the Board to support the strategy and the growth of the business."