Justin Parker, Managing Director, and Rupert Mucklow, Executive Chairman, have jointly managed A & J Mucklow Group Plc for the last 15 years. The Company has been very successful during this period, achieving a total shareholder return of 312%.
As part of the succession planning for the business, the Board is now implementing some changes at Board level, so as to provide the business with continuity and stability in leadership in the medium to long term. The following changes have been agreed.
Justin Parker will step down from the Board and will leave the Company on 31 December 2018 to pursue new challenges in the property industry. The Company will recruit a CEO who will combine the duties of the Managing Director and the executive duties of the Chairman and, pending that appointment, Rupert Mucklow will assume the Managing Director's duties from 01 January 2019 until the new CEO has settled in, after which he will relinquish his executive duties, and assume the role of Non-Executive Chairman.
Rupert Mucklow commented:
'Justin and I have enjoyed working together for the last 15 years and are very proud of what we have achieved. However, we are not immortal and we both recognise the need to restructure the Board roles as part of the Company's succession plan and to introduce new talent to the Company. This will enable the business to flourish for many more years. I would personally like to thank Justin for his loyalty, professionalism and dedication over the years and I and the Board wish him every success in whatever he pursues next'.
A statement required by section 430(2B) of the Companies Act 2006 will be placed on A & J Mucklow Group Plc's website as soon as reasonably practicable following the date on which Justin Parker ceases to be a director of the Company.