Cumbrian agriculture and engineering group Carr’s has announced that Tim Davies has decided to step down as its chief executive officer after seven years in the role.
The board of Carr’s has already instigated a process to select a suitable successor as chief executive, to lead the group in the coming years.
Mr Davies will remain in post until a successor is appointed and for a handover period to ensure a smooth transition.
Group chairman Peter Page said: “On behalf of the board, I would like to thank Tim for his enormous contribution over the last seven years.
“He has led the group with passion and integrity, developing its international focus and a strong organisational culture.
“I look forward to continuing to work closely with Tim during the succession phase.”
Mr Davies added: “It has been a privilege to serve as CEO of Carr’s over the last seven years and I am proud of the achievements of my colleagues and the group during that time.
“I firmly believe that now is the right time for a new CEO to lead the group, building upon its strong position, and to develop its strategy into the future.”