Lindsley Ruth steps down from RS
Lindsley Ruth has stepped down as Chief Executive Officer (CEO) of the RS Group with immediate effect. This follows a leave of absence since November 3rd when an alternative management structure was put in place amid speculation on his future.
Ruth will be available, if required over the next twelve months, equal to the length of his notice period, says the board of directors. David Egan, Chief Financial Officer, will continue to lead the Group as Acting CEO supported until a process to find a permanent CEO has concluded.
“Lindsley has led the turnaround of an underperforming business and, working with the wider team, has created a strong vision and purpose for our company,” said Rona Fairhead, Chair of the RS Group.
“RS Group is now a confident organisation full of talented people, aligned behind a clear strategy focused on delivering profitable growth and market share gains. On behalf of the Board and everyone at RS Group I would like to thank Lindsley for his many achievements and wish him happiness, health and every future success.
“The success of RS Group has been a function of a clear strategy and the hard work of our high performing leaders and people throughout the business, united behind our purpose-led culture which resonates with customers and suppliers alike,” she said.
“We are delivering ongoing outperformance, as illustrated in our recent interim results, and see significant opportunities to continue to take market share and drive high quality profitable growth. The Board has every confidence in our people maintaining and building on our momentum and we thank David Egan and everyone in our fantastic team for their ongoing focus and commitment to deliver our strategy.”
“I am proud to have led RS Group for over seven years,” said Ruth. “We have come a long way, and while the time is right for me to step away, I could not be prouder to see the great people in this business outperform and pursue the opportunities ahead. I would like to thank all my colleagues at RS Group for their dedication, support, and enthusiasm in driving RS Group forwards, building on the success we have achieved together.”
RS Group stocks more than 700,000 industrial and electronic products, sourced from over 2,500 leading suppliers to over 1.2 million customers with operations in 32 countries. However in recent years it has increased its focus on the product life cycle, from design to repair, as well as more brands for personal protective equipment (PPE).