Glen Dimplex, the electrical goods company founded by Martin Naughton, has named one of the businessman’s sons as its next chief executive officer (CEO).
Fergal Naughton (49), who has been a director of Glen Dimplex Unlimited for the past 18 years, according to Companies Registration Office (CRO) filings, will succeed Fergal Leamy from next month.
Mr Leamy signalled several months ago that he planned to step down after six years with the business, “with much of its transformation nearing completion”, Glen Dimplex said in a statement. He will aid the transition in an advisory capacity until later this year.
“I consider it a privilege to lead my family’s business, which was founded by my father, Martin, more than half a century ago,” said Fergal Naughton, one of the group founder and chairman emeritus’s three children.
“On behalf of the board, our exceptional leadership team and all colleagues across our group, I would like to thank Fergal for his significant contribution and collegiate support in driving our transformation as a solutions provider for more sustainable homes and businesses.”
Mr Leamy has overseen a series of acquisitions by the family-owned business in recent years building out its heating and ventilation division, which makes products such as electric heat pumps, hot water cylinders and electric heating panels
Glen Dimplex signalled in January it was seeking 70 redundancies in Dunleer, Co Louth as part of a restructuring that will end manufacturing by the company in the town and concentrate its manufacturing operation on the island of Ireland at its plant in Newry.
It blamed a slower-than-expected transition to heat pump and other new technologies.
Heat pump sales fell 23 per cent in Europe last year, according to the European Heat Pump Association, returning to a level seen before the war in Ukraine. Demand had jumped after Russia’s full-scale invasion of Ukraine sent gas prices soaring.
