HSS Hire searching for new chief executive as John Gill steps down
The boss of tool supplier HSS Hire is stepping down after eight years, triggering the hunt for a successor.
Chief executive John Gill will leave the company after a handover period once a permanent replacement has been found.
The firm said it will make a further announcement once his leaving date has been confirmed.
Chairman Alan Peterson said Mr Gill had made an "important contribution" since joining the firm in 2009.
"As CEO from September 2015, he has led the company through a period of significant change as we implemented our new operating model.
"With this work now largely complete, the focus shifts to driving sales growth through the new network and the board believes it is the right time to look outside the business for a new CEO who can lead this next phase of our recovery."
It comes after the company reported deepening annual losses last week despite continued efforts to return the business to firmer financial ground.
It revealed a reported loss before tax of £17.4 million for the year ending in December 2016, compared to a loss of £13.8 million for 2015.
However, revenues grew by 9% to £342.4 million thanks to a "strong performance from key account customers".
HSS has made a string of profit warnings and embarked on a management overhaul since floating on the London Stock Exchange in 2015.