By Claire Reilly
The managing director of GUD Holdings, Ian Campbell, has announced he plans to retire in July after 14 years at the company. GUD Holdings owns small appliance brand Sunbeam, as well as Oates, Dexion and a number of other companies.
As GUD Holdings is a publicly-listed company, the announcement comes some months before Campbell’s official departure on 1 July 2013. The company has begun a search for a replacement, although Campbell has indicated he will stay on after July if an internal or external candidate is not found in time.
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Speaking about the decision, the 63-year-old said he made the decision not to renew his contract for another three years.
“At 66 you’re probably just about due to go fishing on a regular basis,” he said. “And to be honest I didn’t want to do anything less than a three year term.
“I think investors really want some certainty that whatever the strategy is, whoever is in the chair is going to be there to execute whatever the strategy is. I think a lot of CEOs probably go a year after they should have gone, so I’d rather go a year early to be honest.”
Campbell said he had no plans to move on to any other companies, but would stay on in his position on an external board for a listed investment company.
Ian Campbell is set to retire as MD of GUD Holdings after 14 years at the company.