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Building material distributor Grafton names outsider Eric Born as CEO

Reuters
·1-min read

(Reuters) -Building material distributor Grafton Group Plc named outsider Eric Born as its next chief executive officer on Friday, replacing long-serving boss Gavin Slark.

Born, 52, joins Grafton at a time when the FTSE 250-listed company is navigating increased cost pressures, particularly on the shipping and energy fronts, and decline in profits.

A Swiss national, Born has served as CEO of global aviation services provider Swissport International AG and supply chain solutions provider Wincanton Plc.

Born, who will join Grafton on Nov. 28, is also a former judoka who has represented Switzerland in the 1992 summer Olympics.

"Eric Born is a very experienced CEO and business leader with a proven track record of creating shareholder value in publicly-listed and private equity-owned national and international businesses of scale in the retail, logistics

and aviation services sectors," Grafton Chairman Michael Roney said in a statement.

Slark in July said he would step down on Dec. 31 after leading the company, which operates in the UK, Ireland and the Netherlands, for 11 years.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Sherry Jacob-Phillips and Rashmi Aich)