Products group says chief exec stepping down in May
The Construction Products Association is replacing its chief executive as part of a restructuring plan designed to cut costs.
In a letter sent to its members last week, the group said it had been forced into action because 鈥渙ur forward projections beyond 2020 have highlighted that structural changes are required to ensure the long-term sustainability of the organisation鈥�.
It said that chief executive Diana Montgomery is stepping down after seven years in the role at the beginning of May and will be replaced as interim chief by Peter Caplehorn, the CPA鈥檚 current deputy and policy director.
It said the move 鈥渨ill enable the reductions in costs necessary for 2019/20鈥�.
Montgomery (pictured) has been asked to stay on as a part-time chief operating officer for a minimum of 12 months and in the letter, signed by Montgomery and her chairman Carl Arntzen, the group said: 鈥淭he current market environment has been very challenging as new companies and our existing members look at reducing discretionary spending.
鈥淲e are aware of similar challenges at many other trade bodies, not only in construction but in other industries as well.
鈥淲hilst facing this challenge we have been vigilantly managing our overheads, removing and reducing costs wherever possible鈥espite all of this work, the underlying financial challenges remain.鈥�
The group will eventually bring in a new technical manager and the CPA added: 鈥淭he resulting plan, which the board have approved, is to protect and enhance the CPA鈥檚 areas of expertise while robustly addressing our cost base.鈥�
In its last set of accounts for the year to December 2017, the CPA had a turnover of 拢1.5m and made a post-tax profit of 拢98,000.
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