LONDON (ShareCast) - (Sharecast News) - Marks Electrical announced on Friday that its chief financial officer, Josh Egan, had notified the board of his decision to step down to take up the CFO role at motorway services operator Roadchef.
The AIM-traded company said it had initiated a process to appoint his successor.

"Josh has made a great contribution to the transformation of Marks Electrical, bringing professionalism and rigour to the finance function and through wider support across the business," said chief executive officer Mark Smithson.

"Our financial controls, reporting and financial discipline are in a far stronger place than when he arrived.

"Under his guidance, we have improved our financial and operational capabilities, creating a strong platform for our future success."

Marks Electrical said Egan would remain in his role for the time being, supporting the business through its upcoming preliminary results in June and ensuring an orderly handover.

He would also continue to serve as a director of the company during the transition period, with a further update to be provided in due course.

"It's been a pleasure to work with Mark and the team, as we transitioned from a successful family-owned business to a publicly traded company," Josh Egan commented.

"It's never an easy decision to leave a great business, especially with the progress we have made over the last few years.

"However, the opportunity has arisen for me to take on an exciting new challenge."

Marks Electrical said it expected to publish its preliminary results for the 12 months ended 31 March on 25 June.

At 0910 BST, shares in Marks Electrical were up 0.85% at 59p.

Reporting by Josh White for Sharecast.com.

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