Ashtead nets Electrocomponents boss for non-executive director role

Ashtead Group on Wednesday appointed Electrocomponents chief executive Lindsley Ruth as a non-executive director with immediate effect.

Lindsley, who has also been appointed as a member of the audit, remuneration and nomination committees, was executive vice president of Future Electronics Group and has also held senior positions with TTI Inc and Solectron Corporation prior to heading FTSE 250-listed Electrocomponents.

Alongside the appointment of Lindsley, Ashtead confirmed that Brendan Horgan has today succeeded Geoff Drabble as chief executive, with Drabble having stepped down from the board and on course to retire from the group on 30 November.

Paul Walker, chair of Ashtead, said: "On behalf of the group I would again like to extend my thanks to Geoff for his tremendous service over the past 12 years. I am very pleased to welcome Lindsley to the board of Ashtead. He brings with him relevant knowledge of the end markets that we operate in and his experience will further add to the strength, depth and effectiveness of the Ashtead board."

Ashtead Group's shares were up 0.80% at 2,139.00p at 0819 BST.