Industrial holding group DCC today announced a shake up in the structure of its board that will see current chief executive Jim Flavin replacing Alex Spain as executive chairman later this year.
Mr Spain will step down from the board in advance of the annual general meeting on June 30th, the company said.
Mr Flavin will take over the chairman's role and, for a three-year transition period, will be an executive chairman with primary responsibility for strategy development, DDC said.
The group's chief operating officer, Tommy Breen, will become group managing director under the new arrangements.