Customade Group has added to the news of the departure of David Leng, saying he ‘has decided he needs to take a well-earned break’ but remains a friend of the group and leaves the business in good shape.
The departure of the CEO of four years was announced on Thursday via social media when he said: “After an exceptionally tough four years at Customade Group, I am pleased to be able to step away from my Chief Exec role and successfully leave the business in very good shape.
He continued: “I have learned a huge amount during the journey and am proud to have played my part in securing the future for so many people. The administration period during lockdown was incredibly tough and it was a real shame that we could not find a solvent solution that would have helped more people, but I am confident that every possible option was considered.
Customade Group followed with its own statement: “Customade has announced that David Leng will step down from his role as CEO.
“Having led the business through four turbulent years, David has decided he needs to take a well-earned break.
“David remains a friend to Customade and leaves the business in good shape, and in a position for Customade to fulfil its ambition of becoming a truly world-class manufacturing business.
“Customade senior management will work with David over the next days to communicate the change in leadership and ensure a smooth transition.”
Leng, who had led the group since early 2018 read story and continued as CEO after its collapse and rebirth last year read story
, a move which led to a number of major players publicly declaring they would not deal with the group read story.
Leng had emerged as CEO of the group soon after stepping down as Synseal CEO in 2017, shortly after the company announced a refinancing deal.
Last year he survived the group’s acquisition in a pre-pack deal between administrators and European private equity fund Nimbus with financing source MidCap Financial, and continued to lead it with ongoing operations Virtuoso Doors, Polyframe Norwich, Polyframe Stonehouse, Real Aluminium, Atlas, Fineline Aluminium and the Stevenswood trade counter chain intact but without Polyframe’s Halifax and Livingston sites.
