HESSLE, England—Changes continue to be made at the top of the executive branch of Fenner P.L.C. and Fenner Dunlop P.L.C.
CEO Nicholas Hobson has stepped down from the his CEO and non-executive chairman of the board of directors posts citing medical reasons and will leave the Fenner group of companies after completing his contractual notice period, two officials at the company confirmed.
He will be on leave of absence during the notice period to allow him to deal with his health problems, according to the firm, which is the parent of conveyor belt manufacturer Fenner Dunlop.
Hobson has been on leave of absence from Fenner since January because of his health issues.
Hessle-headquartered Fenner's board has launched a search to find permanent replacements to fill the CEO and chairman of the board posts, the company said.
Until a permanent replacement for Hobson is found, Mark Abrahams will continue to serve as CEO and relinquish his position as chairman of the company, a spokesman said. He has filled in as CEO since Hobson took his leave of absence in January.
Vanda Murray, a member of the board, was named acting non-executive chairman.
Abrahams joined Fenner in 1990 and served as CEO of the company from 1994 until March 2011 when he became non-executive chairman.
In a statement, the board extended its thanks to Hobson “for his many years of valued service with the group” and wished him well in his recovery.
Fenner Dunlop has made a number of changes at the top of its management team in the last two years, most involving its Conveyor Solutions Division, the firm's primary belting business.
It restructured the ECS leadership team globally in the midst of a fast declining mining segment, the main sector served by the company. Roles were changed and some positions were consolidated.
The company also made a number of cuts, although it did not provide reduction figures.
More changes followed just a year later. In October 2015, some key management positions were eliminated and Edwin Have was appointed executive director for the Northern Hemisphere while David Landgren was named executive director of the Southern Hemisphere/Asia-Pacific.
Landgren is responsible for Australia, China, South Africa and Asia. Have oversees Europe, India, North Africa/ Middle East and the Americas.
One of the executives who opted to leave the company was Cassandra Pan, the former president of Fenner Dunlop Americas. She took early retirement.
At that time, Hobson said it was unlikely the coal and some other segments of the mining industry would experience any improvement in the next year.
“Pressure on earnings has led many mining companies to reduce costs within their operations and by reducing expenditures with supply partners such as Fenner Dunlop,” he said.