Synseal have announced that David Leng, who has held the position of CEO at the company for 8 years, is to step down. This is the official statement as published on the Synseal website:
Synseal Group announces Board appointments for next stage of growth
After a period of strong revenue and customer growth, achieved through the integration of seven strategically beneficial acquisitions, the company has now completed its next stage of growth refinancing and investment. With this in place, David Leng will, after eight years in role, be standing down as Chief Executive Officer of the Synseal Group.
Deborah Kemp will assume the role of interim CEO, with Leigh Daveran remaining as CFO and Andy Jones as Sales & Marketing Director. Andy Jones will take on David Leng’s customer relationship responsibilities.
Together with the existing experienced senior executive team, the group will continue to consolidate its market leading positions in PVC-U profile and conservatory roofs, and take advantage of its strategic growth in glass, entrance doors and aluminium window and door products.
Leigh Daveran, CFO, commented ‘’Through the support of Proventus and H.I.G. Capital, Synseal Group has grown from revenue of £70m prior to the MBO in 2010 to £160m today, enabling the management team to pursue its ambition to offer an unrivalled range of quality products, customer experience and investment in people.
“Deborah brings a wealth of operational and organisational experience gained across a variety of consumer and property led public limited companies as well as many private equity businesses. She has been working with the executive team and David over the past four months, supporting and developing our future growth plans. Having previously been CEO of several growth businesses, Deborah’s experience will be invaluable in helping to support our next exciting chapter.”
The Board would like to thank David for his contribution and wish him well for the future.
It is fair to say that David Leng oversaw a huge change in the business as CEO during his tenure at the company. Since their MBO in 2010, the company has made seven acquisitions, entering new markets such as IGU manufacture and high end timber doors. Revenue across the group has been boosted from £70m a year to £160m a year. New products such as WarmCore and Stratus has enabled Synseal to create new niches and increase the competition in existing areas.
This has all happened during the tenure of David Leng as CEO, and I don’t think anyone can argue that he and the business has not been busy! I’m sure Mr Leng will be looking forward to a period where feet are raised and a beach or two is in mind.
Whether this next period for Synseal will be as busy remains to be seen. I am sure the company has a solid plan for moving forward during the next few years, and I want to wish Deborah Kemp and Andy Jones the very best with this new step forward. I also want to congratulate David on his 8 years at the company and wish him well on whatever he decides to do in the future.
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