Steve Fareham joined Billington on leaving school in 1968 and rose through the ranks to spend 25 years as managing director. Since 2014, post retirement, he has been a non-executive director but now he is leaving the board completely.
With former Severfield boss Ian Lawson taking over as non-executive chairman at Billington, there is no longer the same need for Steve Fareham’s industry elder statesman wisdom. Who they need is a financial whizz.
Peter Hems, outgoing non-executive chairman, explained: “It has become evident that, following the recently announced board changes, and in order to comply with corporate governance best practice, it will be necessary for Billington to introduce some additional financial expertise to the non-executive director team. Therefore, Steve has decided that it was the right time to stand down, thereby enabling the company to commence the search for a replacement with the relevant financial expertise. With the recent addition of Ian Lawson to the board, Billington already has a good strength and depth of industry experience at the necessary level.
"I would like to take this opportunity to personally thank Steve for his many years of service and for his invaluable support."
Chief executive Mark Smith added: "The retirement of Steve brings the end of an era for the Billington Group. The company and I personally owe him a great deal of thanks for his hard work, dedication and diligence over his tenure in office. We wish Steve a very long and happy retirement."