Chris Davies, chief executive of HSS Hire Group (LON:HSS), has stepped down from the role after nine years with the tool hire company.
He has been succeeded by chief operating officer (COO), John Gill, but will hang around until the end of the year to ensure a smooth handover.
Gill joined the company as chief financial officer in 2009 and has been the COO since 2014.
"John's record and strong leadership skills as both CFO and COO have ensured that he has been a central part of the board's thinking on succession planning for some time,” said Alan Petersen, chairman of HSS, who also paid tribute to Davies's “outstanding contribution” to the development of the business.
The company revealed that current trading remains in line with expectations.
Shares were off 0.25p at 58.25p in a strongly rising market in late-morning trading.