Genuit COO to step down

Piping systems manufacturer Genuit revealed on Wednesday that chief operating officer Matt Cullen will step down from the board on 28 April.

Genuit said Cullen will remain with the group as an employee until 30 June as part of an effort to ensure an "orderly handover of responsibilities", which will be distributed amongst the company's senior leadership team.

The FTSE 250-listed group highlighted that it does not intend to appoint a successor to the role.

Chairman Kevin Boyd said: "On behalf of the board I'd like to thank Matt for the contribution he has made to the group over the last 18 months, in strengthening our commercial processes and more recently in relation to our refreshed strategy and development of the senior leadership team structure and capability. We wish Matt well for the future."

Genuit also announced that Martin Gisbourne, group strategy and marketing director, will assume the newly expanded role of chief strategy and sustainability officer and will lead its sustainability journey, in addition to his current focus on acquisitions and partnership activity.

As of 0920 BST, Genuit shares were down 2.66% at 262.34p.

Reporting by Iain Gilbert at Sharecast.com