The chief executive of Speedy Hire is to retire after seven years with the company, it has been announced.
Russell Down is to remain with the Merseyside-headquartered business until a successor is in place.
The listed firm said that a recruitment process for a replacement is underway and an update will be provided to the market "at the appropriate time".
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Mr Down joined Speedy in April 2015 as group finance director and assumed the role of chief executive in July 2015.
He said: "I am proud to have been chief executive at Speedy for the last seven years and of all we have achieved during this period.
"We are leading the hire market with our digital offering, customer service proposition and ESG strategy, and also have a growing presence in the retail sector. The business is performing well, has a strong balance sheet and is well positioned for future growth.
"I would like to take this opportunity to thank all of my exceptionally talented colleagues, our customers and suppliers for their support and wish them well for the future."
Chairman David Shearer added: "I would like to thank Russell personally and on behalf of the board for his significant contribution as Chief Executive over the last seven years.
"Under his leadership, the business has been transformed and is now well positioned for future growth with an ambitious management team. We wish him well for the future."
