Fenner chief executive Hobson steps down

London –  Fenner PLC chief executive Nicholas Hobson, has stepped down from the board and will leave the group after serving his contractual notice period, the company announced 8 June.

Hobson will be on garden leave for the period of notice to enable him to continue with treatment for his ill health.  He took a leave of absence from the company at the beginning of January 2016 to start medical treatment.

Mark Abrahams has led the executive function as executive chairman since that time.

Hobson will receive his contractual benefits for the duration of the notice period. He will also be treated as a ‘good leaver’ under a long-term performance share plans, pro- rated to the date his notice period starts.

In a statement, Fenner said “the board would like to extend its thanks to Nick for his many years of valued service with the group and wish him well in his recovery.”

Fenner has started a search for external candidates for the positions of CEO and non-executive chair.

Until a permanent CEO is identified, Abrahams is to step back into the role of CEO and relinquish his chairmanship of the company.

Vanda Murray has agreed to step in as acting non-executive chair.