Phil Martin has stepped down from his role as Cedabond’s CEO as of 31 July.
The buying consortium’s chairman, Mike Nunn, said: “Phil is taking a well-earned rest from the industry.
“He joined Cedabond in December 2012, seeing through extensive changes and growing the business to the impressive level it is at today.”
Nunn added: “We wish Phil all the best with his plans for the future. We would like to thank him for the fantastic job he has done over the past 7 years, in particular, doubling the membership and more than doubling the turnover.”
While Martin commented: “I have had a good 7 years with Cedabond and with the financial climate as it is today came to an agreement with the board to step down now rather than at the end of the year.
“I leave Cedabond in good hands and wish them all the best for the future.”