Ennstone chief exec McLeod to retire

Ennstone chief executive Vaughan McLeod has announced that he will retire in 2009.

The company has appointed Graham Brown as interim executive chairman with immediate effect.

Brown was group finance director of Wilson Bowden until the end of 2006. He was previously an independent non-executive director at Ennstone.

McLeod will continue in his role until a successor is found.

The company reiterated its statement that it is considering an equity fundraising alongside disposing of non-core assets in its US and Polish operations "following the prolonged deterioration in the U.S. market and recent sharp downturn in the company's core UK market".