McBride (LSE:MCB) has told investors that its chief executive Chris Smith will retire from the board and his role after nearly twelve years with the company.
Smith's six-month notice period has started, but he has agreed to remain CEO and on the Board until mid-2027, giving the London-listed private label and contract manufacturing group time to find a successor.
The company, which makes household and professional cleaning and hygiene products for retailers across Europe, has retained an executive search firm to define the skills needed for the role and has begun a recruitment process.
The succession comes as McBride works through a period of margin pressure from sustained petrochemical and energy-related input costs, which it expects to weigh on earnings into early 2027, while pursuing growth through the recently completed Eurotab acquisition and a long-term contract manufacturing agreement with Vestacy covering two sites in Spain and Portugal.
"Chris has served the Company with distinction over the last twelve years and, under his stewardship, the Group has undergone significant change, becoming more focussed and disciplined with a strong improvement in financial performance," said Chairman Jeff Nodland.
Smith said he remains "fully focussed on strengthening our business and delivering the key projects under way" until the handover.
McBride said a further announcement will follow in due course on the appointment of Smith's successor.
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