Chamberlin PLC appoints new chief executive as part of restructuring

() appointed Kevin Price as its new chief executive to replace Kevin Nolan, who will remain as a director.

Nolan will ensure an orderly handover of responsibilities and will retain responsibility for key projects and client accounts.

Price has over 25-years’ experience in automotive manufacturing and joined the specialist castings and engineering group in 2015. 

He is currently operations director of the group’s foundry and machining facility and will take the new role on 1 June.

The AIM-listed firm announced last month a £3.5mln fundraise to provide additional working capital and to fund its restructuring, which includes cutting total staff numbers to 138 from 239 as of February.

Shares rose 5% to 8.65p on Tuesday morning.