WEIR Group chief executive Keith Cochran is stepping down.
Mr Cochran, who has led the business for seven years, announced he would step down from the role in October as he Weir unveiled its interim results.
Finance director Jon Stanton will take over as chief executive.
Weir pre-tax profits were down 25 per cent for the period, to £82 million as revenue dropped 12 per cent to £866m.
Weir chairman Charles Berry said: “Keith has demonstrated strong leadership over the last seven years and the substantial progress we have made during that time has been achieved through his passion, drive and determination.
“He has strengthened the Group’s market position, extended our product portfolio and developed a customer-focused business model which is both robust and agile in responding to changing market conditions. He leaves Weir in very good shape with a clear and successful strategy, strong operational performance and an experienced and capable leadership team. We are grateful for all he has done, and when he steps down, it will be with our very best wishes.”
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