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.
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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.
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