Speciality chemicals producer AZ Electronic Materials has announced the retirement of Mike Douglas, the Managing Director of the group's IC Materials division.
Douglas will leave the company on December 31st and will be replaced by Dr Rico Wiedenbruch, who is currently the Managing Director of the group's Optronics division.
Replacing Wiedenbruch will be Anand Nambiar, AZ's Head of Group Operations since July 2010.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company stressed that Douglas "will continue to support the organisation through to the year-end and will facilitate the transition to his successor".
The share price edged 0.72% higher to 366p in early trading.
NR
-
Investors pull money from UK equities as government warns of “painful” BudgetThe government’s post-election honeymoon period has been short-lived, and investors are shying away from UK equities as a result
-
Top global fintech companies to invest inOne British fintech hogs the headlines, but there are two top performers in the US. We explain where you should put your money
