Ian Mason is leaving Electrocomponents after 13 years as Chief Executive Officer of the distribution group.
Company chairman Peter Johnson has already begun the search for Mason’s successor and he is considering internal and external candidates.
Insiders suggest that the company would like to have an appointment made early in the New Year.
Two years ago Mason instigated a shake up at the company putting in place a global structure to support the development of a new and more ambitious strategy for the company, aimed at increasing market share and sales growth rates. To drive delivery of this strategy a detailed 5 year Plan was established and is being implemented.
Mason indicated earlier this year that he would wish to step down once this strategy was firmly embedded. The focus going forward will be on continued effective implementation and execution of the strategy.
A search process has been initiated and will evaluate internal and external candidates.
Ian Mason commented: “It has been a privilege to lead Electrocomponents for the last thirteen years. The business has been transformed into a truly international group, with a strong and experienced management team and a clear strategy. With the Group’s 5 year strategy successfully underway it is the right time for me to pass the baton. I will continue to serve the Company until the end of March to help ensure a smooth succession.”
Peter Johnson, Chairman of Electrocomponents, commented: “On behalf of the Board, I would like to thank Ian for his fine stewardship of the Company over 13 years and especially for leading the development of the new business strategy. The Board wishes him all success in the future.”
The news took the distribution sector by surprise at the electronica show in Munich, especially as Mason is stepping down with the global strategy only half way through its implementation and with more planned investment in ambitious plans to grow the company.
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