Martin Naughton has stepped down as the president of the Glen Dimplex group of companies, which numbers Burco cooking equipment and water boilers and Lec refrigeration amongst its brands.
Naughton was the founder of Glen Electric in 1973 and acquired the Dimplex electric heating firm in 1977.
He will remain as the chairman of a shareholder supervisory board, which has been formed to provide clear strategic counsel and direction to the executive board with specific medium- to long-term performance objectives
His resignation has prompted a management re-shuffle, with Seán O’Driscoll promoted to the role of president, while Fergal Naughton succeeds O’Driscoll as CEO and Michael Maher becomes chief operating officer.
Martin McCourt, formerly of Dyson, joins as non-executive chairman and Neil Naughton will be deputy chairman.
Martin Naughton told Glen Dimplex staff: “On stepping down as president, I am pleased to say that the business is in great shape; with a clear strategy and strong performance.
“I am particularly pleased that Sean is succeeding me as president and that Fergal and Michael are taking on new responsibilities.
“I also welcome Martin McCourt to our board as non-executive chairman.
“We have a high calibre team at Glen Dimplex which will drive its long term profitable growth and make our companies even more exceptional in the years ahead.”
He continued: “Finally, I am stepping down from the executive board – but I may visit from time to time.”