Bench­mark Hold­ings founder to step down

Fish Farmer - - United Kingdom | News -

A PROF­ITS warn­ing was be­hind Mal­colm Pye’s sur­prise de­ci­sion to stand down as chief ex­ec­u­tive of theYork­shire aqua­cul­ture health, nu­tri­tion and ge­net­ics busi­ness Bench­mark Hold­ings, it has been dis­closed.

Pye, who will for­mally quit on Novem­ber 30 but who will stay on as a non-ex­ec­u­tive direc­tor, told the board that he taken the de­ci­sion to al­low the com­pany to ap­point a new leader to drive the next phase of Bench­mark’s growth and devel­op­ment.

Bench­mark Hold­ings said that Pye had de­cided a new boss was needed. How­ever, the com­pany stressed it wants to re­tain ‘his ex­ten­sive knowl­edge and ex­pe­ri­ence’.

But the de­ci­sion was taken in the wake of a prof­its warn­ing a week ear­lier which wiped a fifth off its mar­ket value.

The com­pany then warned that in the past three months it has faced ‘chal­leng­ing con­di­tions in the global shrimp and Mediter­ranean seabass and bream mar­kets’, which had af­fected sales in its ad­vanced nu­tri­tion busi­ness.

How­ever, the share price, which has var­ied from a high of 63p to 36.5p in the past year, did make some re­cov­ery later.

Above: Mal­colm Pye

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