Over the past three years, Martin Professional PLC has undergone a restructuring program under the management of managing director Claus Puggaard. With restructuring successfully accomplished and Puggaard's main assignment complete, he will step down as managing director to take over a new challenge within the Martin Group in Denmark. In order to assure a long-term management solution at Martin Professional PLC, chief financial officer Johan Delfs has stepped down as well. Chief executive officer Henrik Soerensen of Martin Manufacturing UK Ltd (Jem) will assume the leadership position at Martin Professional PLC until a new management team is appointed.
"Day-to-day operations at Martin Professional PLC will continue unimpeded," states Martin Professional president and CEO Kristian Kolding. "Claus gathered a cohesive and competent staff at Martin UK who will continue to serve the UK market under the direction of Henrik Soerensen. The restructuring has put in place a solid foundation for future growth in the UK market and our outlook for 2003 remains positive."