Benchmark founder Pye quits chief executive role
Malcolm Pye, the founder of aquaculture health, nutrition and genetics business, Benchmark, has resigned from his role as chief executive of the Sheffield-based company.
In a statement, Benchmark said Pye’s decision would allow the appointment of a new CEO to drive the next phase of the company’s growth and development.
Pye will formally step down on November 30 but will remain on the board as a non-executive director.
Benchmark chairman Peter George will step up, with immediate effect, to become executive chairman and will remain in the role until a new CEO is appointed.
Pye led Benchmark through its foundation, admission to the Alternative Investment Market and the acquisitive and organic growth that followed, which the company said means that today Benchmark is a leading, global, integrated aquaculture business.
Benchmark has commenced an external search for a new CEO and a further announcement will be made in due course.
George said: “On behalf of the board, I would like to take this opportunity to thank Malcolm for his considerable contribution during his time with the Group. We are delighted that he will remain with Benchmark in a non-executive director role, which will ensure we retain his significant expertise.
“I joined Benchmark because I loved Malcolm’s passion for the business and sector; he has been instrumental in developing a culture in the business that is passionate about sustainability and animal welfare, and we are committed to building on that process.
“We have begun the search for his successor and look forward to updating on progress and ensuring a smooth handover of duties in due course.”
Pye’s departure follows a profits warning issued in a trading update a week ago. An investor call is being held at 12 noon GMT today to provide further guidance on the update and address questions raised by investors.