July 28, 2017 / 7:13 AM / 2 years ago

Rotork says CEO quits as it looks for a fresh head

July 28 (Reuters) - Rotork Plc said its Chief Executive Peter France resigned as the valve-control systems maker looks for a fresh head to lead operational changes to boost growth and margins.

“The Board and Peter have mutually agreed that the time is right for a new Chief Executive to lead these initiatives,” it added.

The company said Chairman Martin Lamb will become full-time executive chairman until a successor for France, who was CEO for nine years, is named.

The change comes after a review of the board to boost the company’s investment in key areas and drive greater efficiencies throughout the business, Rotork said.

Shares in the company were down 3 percent at 244.4 pence at 0705 GMT. (Reporting by Rahul B in Bengaluru; Editing by Gopakumar Warrier)

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