Series plastic automotive part manufacturer Carclo has announced that Antony Collins will take over as group chief executive on an interim basis as of 1 October.
Collins had been serving as chief restructuring officer since joining the group in May this year.
At the same time, Mark Rollins, who had been group chairman, will step down and return to a non-executive chairman role.
Collins’ interim term will continue while a restructuring of the group is completed as the company looks to build a long-term strategy.
In August, Carclo agreed the sale of part of its Wipac LED vehicle lighting business. The company, based in Buckingham, sold off mid-volume production of lighting assemblies in order to concentrate on its low-volume, speciality vehicle customers.
It was reported the sale resulted in a £400,000 loss for Carclo. This, while the company has looked to invest in additional capacity in the UK and the US to support new orders.
The company is now understood to be looking to sell off the remaining portion of the Wipac business.
Earlier this year, Carclo reported that similar divestments at its Technical Plastics division had resulted in improved financial performance.