Grafton Group PLC on Monday said that Chief Executive Gavin Slark is to step down after 11 years with the DIY retailer.

Slark will continue as CEO & board director of the Dublin-based company until December 31, in line with his service agreement.

‘A process to appoint a successor will commence immediately with the support of an executive search firm,’ Grafton said.

Chair Michael Roney said: ‘Gavin has made an outstanding contribution to Grafton and provided exceptional leadership over the past eleven years. Under his stewardship the group has further extended its geographic footprint and has been transformed into a portfolio of higher quality and higher returning businesses with excellent market positions and strong growth prospects.’

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