The long-serving finance director of Fife furniture and educational interiors group Havelock Europa has quit the company.
Grant Findlay, who picked up a pay and pensions package worth £189,000 last year, resigned from the board with immediate effect yesterday having spent the past nine years leading the firm’s financial strategy.
Along with chief executive Eric Prescott, Mr Findlay was instrumental in steering Havelock’s path through the recessionary downturn which devastated some of its key markets such as the construction sector.
His resignation comes less than a month after the firm returned to the black for the first time in six years after turning around a £500,000 loss in 2012 to post a £600,000 pre-tax profit for the year to December 31, 2013.
The result raised the prospect of a first shareholder dividend since 2009 next year.
The company would not comment on the reasons behind England-based Mr Findlay’s resignation decision yesterday.
However, it said he had made a major contribution to the firm.
“The board would like to express our sincere thanks and appreciation to Grant for his significant contribution over the last nine years and we wish him the very best for the future,” Mr Prescott said.
The firm which employs around 400 staff at two major sites at Dalgety Bay and Kirkcaldy, and which has an overall workforce of around 600 immediately moved to confirm Kier Group executive Ciaran Kennedy as successor to Mr Findlay.
Mr Kennedy who is based in Cupar, and is currently operations director at Kier Group’s Utilities Scotland subsidiary will join the Havelock board on June 23.
Prior to Keir’s acquisition of May Gurney, Mr Kennedy was finance director of its public-sector business and had previously spent 17 years with building materials group Ennstone in a number of key finance and operational roles.
The 48-year-old is a member of the Chartered Institute of Management Accountants and is a director of KDY Associates and Tor2 Limited.
“We are delighted Ciaran will be joining Havelock Europa,” Mr Prescott said.
“Ciaran brings with him 20 years of financial and operational experience working for publicly quoted companies, together with a record of strong leadership and strategic growth skills.”
Shares in AIM-quoted Havelock Europa were unchanged at 23.50p following yesterday’s trading session.