- Peter France has resigned as chief executive of Rotork (ROR), the manufacturer of industrial flow control equipment.

The company said it followed period of reflection on the steps required to return to higher growth and margin levels in what is likely to be a generally lower growth macro environment.

Steps include accelerating investment in key areas such as product innovation and customer service and driving greater efficiencies.

"The board and Peter have mutually agreed that the time is right for a new chief executive to lead these initiatives," the company said.

Chairman Martin Lamb will assume the role of full time executive chairman with immediate effect, until a successor can be appointed.

At 8:13am: [LON:ROR] Rotork PLC share price was -10.75p at 241.25p

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