New arrival sees old boss put on gardening leave
星空传媒 products and insulation supplier SIG has found a new chief executive to replace Gavin Slark who is taking up the same role at rival Travis Perkins next year.
In May, SIG said Slark was leaving to replace Pete Redfern at Travis Perkins after he stepped down in March after just six months in the role because of ill-health.
Slark had been due to remain in the role until the end of the year but the firm said this morning he has now been put on gardening leave.
His replacement at SIG is Dutchman Pim Vervaat who has also been appointed chair designate. He will formally join the firm 1 October.
SIG said Vervaat, who was most recently in charge of 拢1.7bn turnover packaging firm Constantia Flexibles, will take up in the post of non-executive chair around spring 2027.
SIG said its chief financial officer Ian Ashton, will be in charge of day-to-day operations until Vervaat鈥檚 arrival.
Meanwhile, the firm said trading in the first half of the year saw revenue inch up just 1% to 拢1.3bn in the six months to June. And it warned: 鈥淗aving seen no notable pick-up in demand during the period, the Board remains cautious as to the prospect of meaningful market improvement during the second half.鈥�
The firm releases its interim results on 5 August.
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