LONDON Brian Murdoch (left) is to step down from his position as deputy chairman of Abacus Group and retire from the company’s board on September 30. He will remain as an employee of Abacus in a part-time role.
Martin Kent, Abacus Group CEO, said, “His contribution over the 17 years since he joined Abacus as Chief Executive in 1987 has been very considerable. When Brian joined us, Abacus was a small private distributor with an annual turnover of £15m, operating only in the UK and with a narrow line card. Brian was instrumental in changing the Group to enable it to be where it is today, a financially strong and successful company, operating in several parts of Europe, with the ability to grow, both organically and through acquisition.”
Murdoch has worked in the UK electronic component distribution sector since 1970 having previously been with STC Electronic Services (now part of Arrow Electronics) where is ended up as general manager.
Gary Kibblewhite (left) is also to leave the company’s board after 13 years as a non-executive director.
Abacus has also issued a trading update predicts its profit before tax for the full year which ends September 30, to be a little ahead of current expectations, primarily through strong sales in the UK. Customer demand continues to grow well in the UK and Ireland, although sales in our Nordic and Italian markets have yet to show similar strength.