David Walker to step down in the second half

Jelf Group chairman David Walker has announced his intention to step down from the company’s board at some point in the second half of 2010 after six years as non-executive director and three as chairman.

“I have thoroughly enjoyed the last six years, and have been honoured to be associated with the Jelf Group,” Walker said in a statement accompanying the firm’s six-month results. “Given that our operating businesses are all performing well, and our capital structure is now very strong, I believe this is a good time for me to make way for some new blood.”

He added that the firm would be announcing succession plans in due course.

Jelf made a loss of £616,000 for the six months ended March 2010, down from a loss of 994,000 in the same period of 2009. However, the group made an operating profit of 977,000, compared with an operating loss of 429,000 for the first six months of 2009.

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