Benchmark, the aquaculture health, nutrition and genetics business, announces that Malcolm Pye, Benchmark's founder and Chief Executive Officer, has notified the Board of his decision to step down to allow the Company to appoint a new Chief Executive to drive the next phase of Benchmark's growth and development. Malcolm will formally step down on 30 November 2019 when he will become a Non-Executive Director of Benchmark, ensuring the Company retains, at Board level, his extensive knowledge and experience.
Peter George, Chairman of Benchmark, will step up, with immediate effect, to Executive Chairman and will remain in this role through to the appointment of a new CEO, to ensure a smooth transition period and a successful handover of Malcolm's role and responsibilities.
During his tenure, Malcolm led the Group through its foundation, Admission to AIM and the acquisitive and organic growth that followed, meaning that today Benchmark is a leading, global, integrated aquaculture business.
The Company has commenced an external search for a successor and a further announcement will be made in due course.
Benchmark's Chairman, Peter George, commented:
“On behalf of the Board, I would like to take this opportunity to thank Malcolm for his considerable contribution during his time with the Group. We are delighted that he will remain with Benchmark in a NED role, which will ensure we retain his significant expertise.
“I joined Benchmark because I loved Malcolm's passion for the business and sector; he has been instrumental in developing a culture in the business that is passionate about sustainability and animal welfare, and we are committed to building on that process. We have begun the search for his successor and look forward to updating on progress and ensuring a smooth handover of duties in due course.”